Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
Tel : 886-2-2380-3487
August 17, 2012 Taiwan's real gross domestic product (GDP) decreased by 0.18% in 2012Q2, according to the preliminary estimation by DGBAS. Meanwhile, the prediction of 2012 GDP growth rate is revised to 1.66%.
Preliminary Estimation of 2012Q2 GDP
Weakened external demand caused the real exports of goods and services to decline by 2.00% in 2012Q2. Incorporating with mild contraction of domestic sector, GDP decreased by 0.18% from the same quarter of the previous year. Meanwhile, the GDP growth rate of 2012Q1 is revised to 0.40% (formerly 0.39%). The seasonally adjusted annual rate (saar) of the real GDP is 3.45% in 2011Q2, and saar of 2012Q1 is revised to 1.52% (formerly 2.82%).
Forecast for 2012
Looking forward, the growth of external sector will be limited due to weak global demand and obstructed export competitiveness. Combining with sluggish domestic demand, real GDP is forecasted to grow 1.66% in 2012. CPI is predicted to rise by 1.93%.
Outlook for 2013
The world economy is expected to stay steady in 2013, according to the latest global economic forecasts. In consequence, Taiwan's export is anticipated to revert modest gaining. Associate with the contribution from domestic sector, real GDP will grow by 3.67% in 2013. CPI will gently raise 1.08%.
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