Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
Tel : 886-2-2380-3487
August 15, 2014 In 2014Q2, Taiwan's real gross domestic product (GDP) grew by 3.74% from the same quarter of the previous year, according to the latest preliminary estimation by DGBAS. The GDP is predicted to grow 3.41% and 3.51% in 2014 and 2015, respectively.
Preliminary Estimation of GDP in 2014Q2
Taiwan's service export gained amid the significant increase of the travel and merchanting revenues in 2014Q2. Combining commodity trade and the domestic demand, Taiwan's GDP is estimated to increase by 3.74%, compared to the same quarter of 2013. In the meantime, the real GDP growth rate of 2014Q1 is revised to 3.24% (formerly 3.14%).
Forecast for 2014
Supported by the increasing worldwide demand of the semiconductors, electronic components and machinery, the external sector is expected to advance in the second half of 2014. Coupling with the domestic demand, Taiwan's real GDP is predicted to grow 3.41% in the whole 2014. CPI will rise by 1.64%.
Outlook for 2015
The growth of world economy, according to the latest global economic forecasts, is anticipated to move higher in 2015 than the previous year, and will sustain Taiwan's export growing. Combining with the domestic demand, real GDP will grow by 3.51% in 2015. CPI will increase by 1.46%.
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