Tel : 886-2-2380-3449

The CPI in November 2016 was 106.53 (2011=100) which decreased 0.43% from the preceding month and went up 1.97% compared with the same month of 2015. The WPI was 85.29 (2011=100) which increased 0.63% from the preceding month and moved down 0.28% compared with the same month of 2015.

Full text : (PDF)

【Attachment】

Table 1 The Changes of Consumer Price Indices (EXCEL) (ODF)

Table 2 The Changes of Wholesale Price Indices (EXCEL) (ODF)

Table 3 The Changes of Import Price Indices (EXCEL) (ODF)

Table 4 The Changes of Export Price Indices (EXCEL) (ODF)

Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)

Tel : 886-2-2380-3487

Tel : 886-2-2380-3487

**November 25, 2016 Taiwan's real gross domestic product (GDP) grew by 2.03% from the same quarter of the previous year in 2016Q3, according to the latest preliminary estimation. The GDP is predicted to grow 1.35% and 1.87% in 2016 and 2017, respectively.**

**Preliminary Estimation of Real GDP in 2016Q3**

The real GDP increased by 3.91% on a quarter-on-quarter, seasonally-adjusted annualized basis (saar), and grew by 2.03% on a year-on-year basis (yoy) in 2016Q3, 0.03 percentage point lower than the advanced estimate.

Meanwhile, the economic growth rate of 2016Q1 and Q2 have been revised to -0.23% and 1.13% (formerly -0.29% and 0.70%).

On the demand side, real private final consumption expanded by 2.46% (yoy) in 2016Q3, faster than the 1.59% growth in the previous quarter, primarily due to the increase of consumption on transport, communication and miscellaneous-goods- and-services.

Real gross capital formation grew by 3.11% (yoy), a reversal from the 1.64% decline in the previous quarter. The growth was supported by machinery & other equipment.

Real exports of goods and services increased by 3.59% (yoy), which was mainly driven by the foreign demand for electronic components. Imports also increased by 5.27% (yoy).

On the production side, the manufacturing sector increased by 5.17%(yoy) in 2016Q3, compared to the 0.29% growth in the previous quarter, mainly due to output expansion of semiconductor and chemical material products.

The construction sector decreased by 2.51% (yoy), following the 2.24% decline in the previous quarter, partly attributing to the continuing wet weather and weak demand.

The wholesale & retail trade sector expanded by 1.58% (yoy), a turnaround from the 0.78% contraction in the previous quarter.

Transportation and Storage sector grew by 5.12% (yoy) in 2016Q3, faster than the 2.01% growth in the previous quarter, primarily due to the continued expending demand of air transportation supported by the growing number of trips taken by citizens and also contributed by the growing number of passengers taking THSR and MRT.

**Forecast for 2016**

Taiwan's exports are expected to continue to improve in 2016Q4, mainly benefit from the remarkable rebound of semiconductor market and the rising commodity prices. In the domestic sector, semiconductor manufacturers are speeding up the expansion of advanced capacity, helpful to maintain the growth momentum of private fixed capital formation. Meanwhile, real private consumption is anticipated to grow at a modest path, reflecting the interaction of government’s tax reduction policy to boost car market and the limited increment of salary and employment.

For the whole 2016, taking into account the above factors and following that real GDP growth rate (yoy) was upwardly revised to 0.99% (formerly 0.82%) in the first three quarters, Taiwan's real GDP will grow by 1.35% and has been revised upward 0.13 percentage point.

Consumer price Index (CPI) will increase 1.31% in 2016 and has been revised upward 0.19 percentage point, because of the high price of food resulted from the damage of extreme weather and the influence of typhoon.

**Outlook for 2017**

Global economy and world trade volume are anticipated to grow slightly faster in 2017, together with the emerging demand of new smart application, such as IOT and automotive electronics, will bring gains to Taiwan's goods exports. Coupling with services exports, real exports of goods and services will grow by 3.83% in 2017.

Real private fixed capital formation will grow by 2.00% in 2017, supported by the continuing investment of semiconductor industry and government’s strategies to encourage innovative industries and to improve investment environment, offsetting the influence of declining housing market. Real private consumption will grow moderately by 1.74%.

Combining with public sector, Taiwan's real GDP is predicted to grow by 1.87% in 2017. CPI will gently increase 0.75%.

**Revision for the 2014 and 2015 National Accounts**

DGBAS also released the annual revision of the 2014 and 2015 national accounts. The yearly GDP growth rates have been revised to 4.02% (original 3.92%) for 2014 and 0.72% (0.65%) for 2015.

**Full text and tables (PDF)**

**【Attachment】**

- Table 1-1 Gross Domestic Product and Economic Growth Rate (EXCEL) (ODF)
- Table 1-2 GDP、GNI and NI (EXCEL) (ODF)
- Table 2 Changes in Prices (EXCEL) (ODF)
- Table 3-1 Expenditures on Gross Domestic Product : At Current Prices (EXCEL) (ODF)
- Table 3-2 Expenditures on Gross Domestic Product : Composition at Current Prices (EXCEL) (ODF)
- Table 3-3 Expenditures on Gross Domestic Product : Growth Rates In Chained Volume Indexes(yoy) (EXCEL) (ODF)
- Table 3-4 Expenditures on Gross Domestic Product : Contributions to Economic Growth Rate(yoy) (EXCEL) (ODF)
- Table 4-1 Gross Domestic Product by Kind of Activity : At Current Prices (EXCEL) (ODF)
- Table 4-2 Gross Domestic Product by Kind of Activity : Composition at Current Prices (EXCEL) (ODF)
- Table 4-3 Gross Domestic Product by Kind of Activity : Growth Rates In Chained Volume Indexes(yoy) (EXCEL) (ODF)
- Table 4-4 Gross Domestic Product by Kind of Activity : Contributions to Economic Growth Rate (EXCEL) (ODF)
- Table 5 Gross National Savings and Gross Domestic Investment (EXCEL) (ODF)
- Table 6 Exports and Imports (EXCEL) (ODF)
- Table 7-1 Gross Domestic Product and Factor Incomes : At Current Prices (EXCEL) (ODF)
- Table 7-2 Growth Rates in Gross Domestic Product and Factor Incomes : At Current Prices (EXCEL) (ODF)
- Table 7-3 Composition of Gross Domestic Product and Factor Incomes : At Current Prices (EXCEL) (ODF)
- Table 8 Gross Domestic Product and Gross Fixed Captial Formation of the ICT Industry (EXCEL) (ODF)
- Table 9-1 Expenditures on GDP, Seasonally Adjusted : Chained dollars (Reference year = 2011) (EXCEL) (ODF)
- Table 9-2 Expenditures on GDP, Seasonally Adjusted : Growth Rates (EXCEL) (ODF)
- Table 10 Indicators for Private Final Consumption Expenditure (EXCEL) (ODF)
- Table 11 Indicators for Private Gross Fixed Capital Formation (EXCEL) (ODF)
- Table 12 Economic Growth Rates of Major Countries (EXCEL) (ODF)
- Table 13 The Changes of Consumer Price Indices for Major Countries (EXCEL) (ODF)
- Table 14 Summary of Earning and Productivity Statistics in Taiwan Area (EXCEL) (ODF)

Tel：886-2-2380-3600

Total employment in October 2016 was 11,291,000, which increased by 15,000(+0.13%) from the previous month; it also increased by 66,000 (+0.59%) from that of the previous year.

The unemployment rate dropped by 0.04 percentage points to 3.95 percent in October 2016, the seasonally adjusted unemployment rate also decreased by 0.03 percentage points to 3.90 percent. The number of unemployed persons was 464,000 in October 2016, which decreased by 5,000(-1.07%) but increased by 9,000(+1.94%) from the previous month and that of the previous year, respectively.

Labor force participation rate was 58.81 percent in October 2016, which increased by 0.02 and 0.08 percentage points from the previous month and that of the previous year, respectively.

- Table 1. Important Indicators Based on Manpower Survey Results (EXCEL) (ODS)
- Table 2. Important Results of Manpower Survey in Seasonally Adjusted Series (EXCEL) (ODS)
- Table 3. Labor Force Participation Rate by Educational Attainment (EXCEL) (ODS)
- Table 4. Labor Force Participation Rate by Age (EXCEL) (ODS)
- Table 5. Employed Persons by Industry (EXCEL) (ODS)
- Table 6. Employed Persons by Occupation (EXCEL) (ODS)
- Table 7. Employed Persons by Class of Worker (EXCEL) (ODS)
- Table 8. Unemployed Persons, by Reason Why in Unemployment (EXCEL) (ODS)
- Table 9. Unemployment Rate by Educational Attainment (EXCEL) (ODS)
- Table10. Unemployment Rate by age (EXCEL) (ODS)
- Table11. Persons Not in the Labor Force by Reason Why Not (EXCEL) (ODS)

Tel：886-2-2380-3625

i. At the end of September 2016, the total nonagricultural payroll employees, at 7,467 thousand, decreased by 5 thousand (or 0.06%) from last month. In comparison with September 2015, payroll employees increased by 58 thousand (or 0.79%). The average payroll employees since January 2016 was 7,437 thousand, increased by 63 thousand (or 0.86%) than the same period of last year.

ii. The average monthly regular earnings per employee within the industry and service sector in September 2016 was NT$39,135. Comparing with last month and a year ago, there were 0.47% decreasing and 0.99% increasing respectively. Comparing the same period of January to September over last year, the average monthly regular earnings of NT$39,144 was increased by 1.33%.

iii. The average monthly earnings (including regular and irregular earnings) in September 2016 was NT$45,205, decreased by 1.11% from last month and increased by 1.00% from last September. The average monthly earnings since January was NT$50,097, increased by 0.24% than the same period of last year.

iv. The average monthly working hour for industry and service sector in September 2016 totaled to 162.0 hours, which decreased by 23.3 hours from last month and decreased by 11.5 hours from last year. The average working-hour since January 2016 was 169.0 hours, 4.5 hours less than the same period of last year.

Tel : 886-2-2380-3449

The CPI in October 2016 was 106.99 (2011=100) which increased 1.45% from the preceding month and went up 1.70% compared with the same month of 2015. The WPI was 84.67 (2011=100) which increased 0.77% from the preceding month and moved down 1.88% compared with the same month of 2015.

Full text : (PDF)

【Attachment】

Table 1 The Changes of Consumer Price Indices (EXCEL) (ODF)

Table 2 The Changes of Wholesale Price Indices (EXCEL) (ODF)

Table 3 The Changes of Import Price Indices (EXCEL) (ODF)

Table 4 The Changes of Export Price Indices (EXCEL) (ODF)

Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)

Tel : 886-2-2380-3487

Tel : 886-2-2380-3487

**Based on the advance estimate by DGBAS, the real gross domestic product (GDP) grew by 4.54% on a quarter-on-quarter seasonally-adjusted annualized basis(saar) and 2.06% on a year-on-year basis(yoy) in 2016Q3.**

**Full text and tables (PDF)**

Tel：886-2-2380-3600

Total employment in September 2016 was 11,276,000, which decreased by 14,000(-0.12%) from the previous month, in contrast, it increased by 63,000 (+0.56%) from that of the previous year.

The unemployment rate dropped by 0.09 percentage points to 3.99 percent in September 2016, the seasonally adjusted unemployment rate also decreased by 0.02 percentage points to 3.93 percent. The number of unemployed persons was 469,000 in September 2016, which decreased by 11,000(-2.34%) but increased by 15,000(+3.30%) from the previous month and that of the previous year, respectively.

Labor force participation rate was 58.79 percent in September 2016, which decreased by 0.14 percentage points but increased by 0.07 percentage points from the previous month and that of the previous year, respectively.

- Table 1. Important Indicators Based on Manpower Survey Results (EXCEL) (ODS)
- Table 2. Important Results of Manpower Survey in Seasonally Adjusted Series (EXCEL) (ODS)
- Table 3. Labor Force Participation Rate by Educational Attainment (EXCEL) (ODS)
- Table 4. Labor Force Participation Rate by Age (EXCEL) (ODS)
- Table 5. Employed Persons by Industry (EXCEL) (ODS)
- Table 6. Employed Persons by Occupation (EXCEL) (ODS)
- Table 7. Employed Persons by Class of Worker (EXCEL) (ODS)
- Table 8. Unemployed Persons, by Reason Why in Unemployment (EXCEL) (ODS)
- Table 9. Unemployment Rate by Educational Attainment (EXCEL) (ODS)
- Table10. Unemployment Rate by age (EXCEL) (ODS)
- Table11. Persons Not in the Labor Force by Reason Why Not (EXCEL) (ODS)

Tel：886-2-2380-3625

i. At the end of August 2016, the total nonagricultural payroll employees, at 7,472 thousand, increased by 8 thousand (or 0.10%) from last month. In comparison with August 2015, payroll employees increased by 54 thousand (or 0.73%). The average payroll employees since January 2016 was 7,433 thousand, increased by 64 thousand (or 0.87%) than the same period of last year.

ii. The average monthly regular earnings per employee within the industry and service sector in August 2016 was NT$39,318. Comparing with last month and a year ago, there were 0.29% increasing and 1.40% increasing respectively. Comparing the same period of January to August over last year, the average monthly regular earnings of NT$39,146 was increased by 1.37%.

iii. The average monthly earnings (including regular and irregular earnings) in August 2016 was NT$45,713, decreased by 2.57% from last month and increased by 1.85% from last August. The average monthly earnings since January was NT$50,712, increased by 0.16% than the same period of last year.

iv. The average monthly working hour for industry and service sector in August 2016 totaled to 185.3 hours, which increased by 15.2 hours from last month and increased by 7.1 hours from last year. The average working-hour since January 2016 was 169.9 hours, 3.6 hours less than the same period of last year.

Tel : 886-2-2380-3449

The CPI in September 2016 was 105.46 (2011=100) which increased 0.45% from the preceding month and went up 0.33% compared with the same month of 2015. The WPI was 83.88 (2011=100) which increased 0.04% from the preceding month and moved down 3.95% compared with the same month of 2015.

Full text : (PDF)

【Attachment】

Table 1 The Changes of Consumer Price Indices (EXCEL) (ODF)

Table 2 The Changes of Wholesale Price Indices (EXCEL) (ODF)

Table 3 The Changes of Import Price Indices (EXCEL) (ODF)

Table 4 The Changes of Export Price Indices (EXCEL) (ODF)

Tel：886-2-2380-3600

Total employment in August 2016 was 11,290,000, which increased by 15,000(+0.13%) and 60,000 (+0.53%) from the previous month and that of the previous year, respectively.

The unemployment rate rose by 0.06 percentage points to 4.08 percent in August 2016; however, the seasonally adjusted unemployment rate slightly decreased by 0.01 percentage points to 3.95 percent. The number of unemployed persons was 480,000 in August 2016, which increased by 8,000(+1.75%) and 24,000(+5.31%) from the previous month and that of the previous year, respectively.

Labor force participation rate was 58.93 percent in August 2016, which increased by 0.09 and 0.08 percentage points from the previous month and that of the previous year, respectively.

- Table 1. Important Indicators Based on Manpower Survey Results (EXCEL) (ODS)
- Table 2. Important Results of Manpower Survey in Seasonally Adjusted Series (EXCEL) (ODS)
- Table 3. Labor Force Participation Rate by Educational Attainment (EXCEL) (ODS)
- Table 4. Labor Force Participation Rate by Age (EXCEL) (ODS)
- Table 5. Employed Persons by Industry (EXCEL) (ODS)
- Table 6. Employed Persons by Occupation (EXCEL) (ODS)
- Table 7. Employed Persons by Class of Worker (EXCEL) (ODS)
- Table 8. Unemployed Persons, by Reason Why in Unemployment (EXCEL) (ODS)
- Table 9. Unemployment Rate by Educational Attainment (EXCEL) (ODS)
- Table10. Unemployment Rate by age (EXCEL) (ODS)
- Table11. Persons Not in the Labor Force by Reason Why Not (EXCEL) (ODS)