Peformance of Taiwanese Economy in 2016
07.03.2017 / 02:26 | Aktualizováno: 26.04.2019 / 05:21
(This article expired 31.12.2017 / 01:00.)
After almost one and a half years Taiwanese economy experienced a 1,50% growth of GDP due to improved external demand in the second half of the year. Export of goods and services is the largest component of GDP accounting for 64,83% followed by import of goods and services (51,98%). With increasing outbound shipments and the rebound of global commodity and oil prices, the government has set an optimistic 2%-2,5% goal for GDP growth. Taiwan´s statistic office changed its economic prediction for 2017 from "cautious optimism" to "stable", forecasting a 1,92% GDP expansion this year.
| Taiwan Economic Factsheet | ||||
| Year | 2014 | 2015 | 2016 | 2017 |
| Gross Domestic Product (GDP) | ||||
| in bil. USD | 530,5 (3,69) | 525,2 (-0,99) | 529,7 (1,50) | 561,3 (1,92*) |
| Economic Growth Rate per Quarter | Q1 (3,84) | Q1 (4,01) | Q1 (-0,23) | Q1 (2,45*) |
| Q2 (4,31) | Q2 (0,66) | Q2 (1,13) | Q2 (2,29*) | |
| Q3 (4,39) | Q3 (-0,70) | Q3 (2,12) | Q3 (1,51*) | |
| Q4 (3,56) | Q4 (-0,79) | Q4 (2,88) | Q4 (1,50*) | |
| GDP per Capita in USD | 22 668 | 22 384 | 22 495 | 23 827* |
| GDP per Capita in TWD | 715 914 | 706 945 | 717 61 | 732 482* |
| Foreign Exchange Reserves in bil. USD | January | |||
| 419 | 426 | 434,2 | 436,6 | |
| Foreign Trade in bil.USD (in %) | Jan-Dec | January | ||
| 601,94 (-2,1) | 522,56 (-13,2) | 511,34 (-2,1) | 43,99 (7,6) | |
| Exports in bil. USD (in %) | 320,09 (-2,8) | 285,34 (-10,9) | 280,34 (-1,7) | 23,74 (7,0) |
| 1. China | 82,15 (-0,4) | 71,22 (-13,3) | 73,9 (-1,7) | 6,20 (12,7) |
| 2. Hong Kong | 42,54 (-7,9) | 38,07 (-10,5) | 38,4 (-0,5) | 3,01 (0,0) |
| 3. USA | 34,87 (-7,1) | 34,26 (-1,7) | 33,53 (-2,9) | |
| 4. Japan | 19,91 (-3,6) | 19,29 (-3,1) | 19,55 (-0,2) | 1,66 (-1,6) |
| 5. Singapore | 20,56 (-5,3) | 17,26 (-16,1) | 16,16 (-7,2) | 1,36 (7,7) |
| 6. South Korea | 12,71 (-5,3) | 12,57 (-1,1) | 12,79 (-0,7) | 1,15 (21,8) |
| 7. Philippines | 9,53 (-2,5) | 7,45 (-24,2) | 8,66 (15,2) | 0,79 (18,0) |
| 8. Malaysia | 8,62 (-5,3) | 7,13 (-17,3) | 7,84 (9,0) | 0,78 (36,1) |
| 9. Vietnam | 10,00 (-11,8) | 9,48 (-5,2) | 9,55 (-1,7) | 0,70 (-4,0) |
| 41. Czech Republic | 0,41 | 0,34 | 0,45 | |
| Imports in bil. USD (in %) | 6 281,85 (-1,4) | 237,22 (-15,8) | 230,94 (-2,6) | 20,25 (8,4) |
| 1. China | 48,04 (-12,8) | 44,19 (-8,0) | 44,00 (-2,8) | 3,86 (-3,6) |
| 26. Hong Kong | 1,69 (-1,8) | 1,44 (-14,8) | 1,33 (-0,2) | 0,12 (20,0) |
| 2. Japan | 41,7 (-3,4) | 38,71 (-7,2) | 40,65 (4,6) | 2,90 (-3,8) |
| 3. USA | 27,42 (-8,8) | 26,41 (-3,7) | 28,60 (-2,0) | 2,77 (16,5) |
| 4. South Korea | 14,8 (-6,2) | 13,03 (-12,0) | 14,65 (8,9) | 1,28 (23,8) |
| 5. Singapore | 8,38 (-1,9) | 7,12 (-15,0) | 7,52 (4,8) | 0,91 (74,0) |
| 6. Australia | 7,33 (-7,2) | 5,71 (-22,1) | 6,09 (-11,2) | 0,73 (104,5) |
| 7. Saudi Arabia | 13,69 (-12,2) | 7,32 (-46,5) | 5,83 (-20,5) | 0,68 (-0,3) |
| 8. Germany | 9,39 (-13,7) | 8,76 (-8,2) | 8,70 (-0,7) | 0,66 (-6,6) |
| 9. Malaysia | 8,79 (-8,2) | 6,54 (-25,6) | 6,28 (-6,7) | 0,48 (-0,3) |
| 10. Indonesia | 7,4 (-3,4) | 5,97 (-19,3) | 4,32 (-27,5 | 0,43 (7,6) |
| 49. Czech Republic | 0,21 | 0,24 | 0,23 | |
| Trade Volume TW-CZE | ||||
| in bil. USD (in %) | 0,62 | 0,58 | 0,68 | TBA |
| balance TW with CZE in bil. USD | 0,20 | 0,1 | 0,22 | TBA |
| Foreign Investments | ||||
| in Taiwan in bil. USD (in %) | ||||
| approved | 5,77 (17,00) | 4,8 (-16,8) | 11,04 (130,00) | TBA |
| realized | 5,06 (-12,90) | 3,87 (-23,1) | 9,44 (118,52) | TBA |
| Investments TW in CZE | 0 | 77,46 mil. USD | 110,08 mil. USD | TBA |
| Total Investments TW in CZE since 2003 |
- | 963,8 mil. USD | 1073,97 mil. USD | TBA |
| Investments CZE in TW | - | - | 13 000 USD | TBA |
| Total Investments CZE in TW since 2003 |
294 000USD | 465 000 USD | 478 000 USD | TBA |
| Inflation Rate (in %) | ||||
| Consumer (CPI) | (-1,2) | (-0,31) | (-1,7) | (-2,25) |
| Wholesale (WPI) | (-0,51) | (-8,84) | (-1,41) | (-2,72) |
| Private Consumption | ||||
| Growth (in %) | 3,33 | 2,30 | 2,00 | 1,8* |
| Labor Market | ||||
| Employed persons in mil. | 11,08 | 11,20 | 11,32 | 11,32 |
| Unemployed persons in thousand | 457 | 440 | 446 | 445 |
| Unemployment rate (in %) | -3,96 | -3,78 | -3,92 | (3,78*) |
| Average Wage | December | |||
| TWD/Month (in %) | 47 300 (-5,7) | 48 490 (-2,5) | 39 729 (3,82) | |
| Exchange Rate | 1.3.2017 | |||
| USD/TWD | 30,37 | 31,73 | 30,82 | 30,69 |
| EUR/TWD | 40,34 | 35,22 | 33,62 | 32,46 |
|
* Forecast |
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| Source: |
| Directorate-General of Budget, Accounting and Statistics (DGBAS) |
| Executive Yuan; Ministry of Finance, Dept, of Statistics |
| Ministry of Economic Affairs (MOEA) |
| Investment Commission; Approved Investments by Foreign Nationals and Overseas Chinese |
| MOEAIC |
| OANDA - Annually; Based on GDP-value in TWD; Industry and service sector; Average of 2013, 2014, 2015; 10 Provisional value; Provisional estimate |
| Invest in Taiwan (Quarterly)- Official values for previous years, Values for current year according to budget of current year; Monthly regular earnings, |