During the first two quarters of 2013, against the background of a slow global recovery, Taiwan’s economy registered steady growth rates: the growth rate in the first quarter of 2013 stood at 1.44 % and during the second quarter at 2.69 %. The growth rate in the third quarter stood at 1.31 %, reflecting slackening export growth because of weaker demand from mainland China. During the fourth quarter a growth rate of 2.88 % was realized thanks to greater demand for electronic products, and private investment and consumer confidence both picking up. For the total of 2013, the GDP growth rate was 2.09 %.
In line with the global economic recovery, exports increased by 1.4 %, while imports shrank by 0.2 %. Labour market conditions continued to improve, leading to an unemployment rate of 4.1 %, the lowest in five years. Consumer prices increased by 0.8 %, as reducing communication fees and consumer electronic prices partially offset fuel and food price rises. For 2014, the DGBAS (Directorate-General of Budget, Accounting and Statistics) forecasts an economic growth of 3.4 % for the whole year.
For more details about Taiwan’s economy, please visit the Ministry of EconomicAffairs, ROC at http://www.moea.gov.tw/Mns/english/home/English.aspx
