Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
Tel : 886-2-2380-3487
May 25, 2011 Taiwan's real gross domestic product (GDP) increased by 0.39% in 2012Q1, according to the latest preliminary estimation by DGBAS. Meanwhile, the prediction of 2012 GDP growth rate is revised down to 3.03%.
Economic Performance in 2012Q1
Taiwan's export contracted and led the real exports of goods and services reducing by 3.29% in the first quarter of 2012. Incorporating with the sharply decreasing imports, net exports contributed 1.59 percentage points to the change in real GDP. Furthermore, coupling with domestic demand shrinking by 1.42%, Taiwan real GDP narrowly increased by 0.39% in 2012Q1. The seasonally adjusted annualized rate (saar) of the real GDP is 2.82%.
In the Meantime, the real GDP growth rate (yoy) in 2011Q4 was revised to 1.85% (formerly 1.89%). For the whole 2011, real GDP increased by 4.03% (formerly 4.04%).
Outlook for 2012
Although the global economy is expected to stay fair growing in 2012, the worries about Eurozone debt crisis and China's hard- landing add the risks on the prospect. Thus, the growth of Taiwan's export is projected to grow slightly. Combining with weak expansion of domestic demand, Taiwan's real GDP is anticipated to grow by 3.03% in 2012. CPI will rise by 1.84%.
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