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GDP: Preliminary Estimate of 2012Q4 and Latest Outlook for 2013

Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
Tel : 886-2-2380-3487

DGBAS's preliminary estimate showed that Taiwan's seasonally adjusted real gross domestic product (GDP) increased by 7.30% at annualized rate in 2012Q4, and the yearly growth rate of unadjusted GDP was 3.72%. For the whole 2012, economic growth rate was 1.26%. Meanwhile, the GDP is expected to grow 3.59% in 2013.

Preliminary Estimation of GDP in 2012Q4 and 2012

        The resilient external demand propelled the real exports of goods and services in 2012Q4. Coupling with moderate growth of the domestic sector, Taiwan's seasonally adjusted annualized rate (saar) of real GDP was 7.30% in 2012Q4. The year-on-year (yoy) growth rate of unadjusted GDP was 3.72%. Meanwhile, the saar and yoy economic growth rates of 2012Q3 were revised to 3.93% and 0.73% respectively. For 2012 as a whole, Taiwan's real GDP grew by 1.26% and CPI increased 1.93%.

Outlook for 2013

        The recovery momentum of world economy is anticipated to be stabilized in 2013, despite of various uncertain risks ahead. In consequence, Taiwan's export is expected to grow fairly. Added with domestic sector, real GDP is predicted to grow by 3.59% in 2013. CPI is expected to rise 1.37%.

Announcement for Modified Forecast Schedule

        From April of 2013, DGBAS will NOT update the yearly GDP forecast at the end of January, April, July and October, but the release of GDP advance estimate at the same time will continue. The regular yearly and quarterly GDP forecast issued in February, May, August and November will remain unchanged.

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