Contact Information : Economic Forecast Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
Tel : 886-2-2380-3487
February 18, 2014 Taiwan's seasonally adjusted real gross domestic product (GDP) increased by 7.27% at annualized rate in 2013Q4, and the unadjusted GDP grew by 2.95%, compared to the same quarter of the previous year, according to the latest preliminary estimation by DGBAS. For the whole 2013, economic growth rate was 2.11%. Meanwhile, the GDP is projected to grow 2.82% in 2014.
Preliminary Estimation of GDP in 2013Q4 and 2013
The increase of commodity export brought the real exports of goods and services gains in 2013Q4. Coupling with significantly improved domestic demand, the seasonally adjusted annualized rate (saar) of real GDP was 7.27% in 2013Q4, and the year-on-year (yoy) GDP growth rate was 2.95%. Meanwhile, the saar and the yoy economic growth rate of 2013Q3 were revised to 0.28% and 1.31%. For 2013 as a whole, Taiwan's real GDP grew by 2.11% and CPI raised 0.79%.
Outlook for 2014
The momentum of world economy is anticipated to be stabilized in 2014, due to the better prospect of the advanced economies. Nevertheless, Taiwan's export is expected to grow mildly, as the enhancing competitiveness pressure on the manufacturing sector from abroad. Combining with moderate domestic demand, real GDP will grow by 2.82% in 2014. CPI will increase by 1.07%.
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