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GDP: Advance Estimate Of 2012Q3 And Latest Outlook For 2012- 2013

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

Taiwan's real gross domestic products (GDP) increased by 1.02% in the third quarter of 2012, according to the advance estimate by the DGBAS. The GDP of 2012 and 2013 is predicted to grow by 1.05% and 3.09% respectively.

Advance Estimate of GDP in 2012Q3 and Forecast for 2012

        Frail domestic demand, mainly dragged by subdued private consumption, brought Taiwan's real GDP growth rate to 1.02% in 2012Q3 (former prediction in August was 1.99%), according to advance estimate by DGBAS. The seasonally adjusted annualized rate (saar) of GDP for 2012 Q3 is 3.50%. Combined with the revised growth rate 2.83% in 2012Q4, Taiwan's real GDP is predicted to grow by 1.05% in the whole 2012. CPI is anticipated to rise 1.93%.

Outlook for 2013

        Gloomy global economy prospect and various uncertainties still restrict the momentum of Taiwan's trade sector. Incorporated with weak domestic demand led by dull consumption confidence, Taiwan's real GDP is expected to increase 3.09% in 2013 (formerly 3.67%). CPI will arise by 1.25%.

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