Taiwan Sees 2017 Growth At 3-year High
26 Maggio 2017 - 10:24AM
RTTF2
Taiwan's economy is set to expand at the fastest pace in three
years in 2017 on improving global outlook, projections from the
Directorate General of Budget, Accounting & Statistics (DGBAS)
showed Friday.
The agency raised the growth forecast for this year to 2.05
percent from 1.92 percent estimated in February. This would be the
fastest rate since 2014, when GDP grew 4.02 percent.
Meanwhile, the inflation forecast for this year was lowered to
0.95 percent from 1.40 percent posted in 2016.
The statistical agency slightly lowered the economic growth rate
for the whole year of 2016 to 1.48 percent from 1.50 percent.
Real exports of goods and services was projected to grow by 3.95
percent this year. Supported by the continuing investment of
semi-conductor manufacturing, private fixed capital formation will
rise 1.95 percent, the agency said.
Private consumption was expected to grow by 1.84 percent,
supported by the accelerated economic growth, and improving stock
market and labor market.
Real gross domestic product grew 2.6 percent year-on-year in the
first three months of the year, which was the fourth straight
quarter of expansion.
The annual rate was slightly revised from the advance estimate
of 2.56 percent published on April 28. Nonetheless, it was slower
than the revised 2.79 percent growth seen in the fourth
quarter.
On a sequential basis, the real growth came in at 3.82 percent
instead of 2.93 percent in the first quarter.
Gross capital formation expanded by 7.68 annually, following the
6.73 percent growth in the previous quarter, mainly due to an
increase in machinery and equipment investment.
Meanwhile, real exports of goods and services climbed 7.36
percent, which was mainly driven by the foreign demand for parts of
electronic products. Imports increased 7.67 percent.
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