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Financial News: Taiwan Economic Growth Accelerates In Q3

Taiwan Economic Growth Accelerates In Q3

11/24/2017 - 05:03:00 (RTTNews)

(RTTNews) - Taiwan's economic growth accelerated in the three months ended September, latest figures from from the Directorate General of Budget, Accounting & Statistics (DGBAS) showed Friday.

Real gross domestic product advanced 3.10 percent year-over-year in the third quarter, revised down fractionally from a 3.11 percent expansion reported earlier.

This was followed by a 2.28 percent growth in the second quarter, revised up from 2.13 percent.

On the demand side, real private final consumption grew 2.69 percent over the year, while gross capital formation declined by 10.41 percent.

Both exports and imports climbed by 11.7 percent and 6.94 percent, respectively.

On a quarter-on-quarter seasonally-adjusted annualized basis, GDP grew 6.84 percent in the third quarter, after a corrected 1.48 percent rise in the June quarter. The third quarter figure was revised down from 7.45 percent.

For the whole 2017, real GDP is expected to grow 2.58 percent, which was revised upwardly by 0.47 percentage point from the forecast in August, the agency said.

Combining with public sector, Taiwan's real GDP is predicted to grow by 2.29 percent in 2018.

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