Contact Information : Fifth Section, Third Department, Directorate General of Budget, Accounting & Statistics (DGBAS)
Tel : 886-2-2380-3487
November 24, 2011 Taiwan's real gross domestic product (GDP) increased by 3.42% in the third quarter of 2011, and is anticipated to grow by 4.51% and 4.19% in 2011 and 2012, separately, according to the preliminary estimate and updated forecasts released by the DGBAS.
Economic Performance in 2011Q3 and Forecasts for 2011
The external sector was slowdown with the real exports of goods and services growing by 2.09% in 2011Q3. Furthermore, coupling with domestic demand declined by 0.52%, the preliminary estimate of real GDP grew by 3.42% in 2011Q3. Meanwhile, the GDP growth rates of the first quarter and the second quarter were revised to 6.62% and 4.52% respectively (formerly 6.16% and 5.02%). The seasonally adjusted annualized rate (saar) of GDP for 2011Q3 decreased by 0.60%, as well the saar of 2011Q1 and Q2 were revised to 9.83% and 2.40% respectively.
Looking forward to 2011Q4, the growth of external and domestic sector will continue along with deteriorating global economic conditions. In whole, real GDP is forecasted to grow by 4.51% in 2011. CPI is predicted to increase by 1.37%.
Outlook for 2012
Various potential risks and heightened uncertainties likely subdue the pace of global economy, thus the growth of Taiwan's export is anticipated to stay moderate. Combining the mild domestic demand, real GDP will grow by 4.19% in 2012 (formerly 4.58%). CPI will gently rise by 1.14%.
Revision for the 2010 and 2009 National Accounts
DGBAS simultaneously completed the annual revision of the 2010 and 2009 National Accounts. The GDP growth rate was revised to 10.72% (original 10.88%) for 2010, and -1.81% (-1.93%) for 2009.
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