2023 Q4
Summary of current season's economic situation analysis —2023Q4
¢International Economic Outlook
According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world's major economies in 2024: U.S. real GDP will grow by 2.4％, Japan's real GDP will grow by 1.4％, China`s real GDP will grow by 4.7％, the real GDP of the euro area will grow by 1.1％.
2023 Global Economic Growth Forecast Compiled Chart
Unit：％
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IMF
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UN
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S&P Global
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OECD
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EIU
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WB
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2024.01
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2024.01
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2024.02
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2023.11
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2024.02
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2024.01
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(2023.10)
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(2023.10)
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(2024.01)
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(2023.09)
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(2024.01)
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(2023.06)
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2024
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2025
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2024
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2025
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2024
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2025
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2024
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2025
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2024
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2025
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2024
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2025
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Global
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3.1
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3.2
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2.4
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2.7
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2.5
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2.6
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2.7
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3.0
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2.4
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2.6
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2.4
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2.7
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(2.9)
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(3.2)
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(2.5)
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(－)
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(2.3)
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(2.6)
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(2.7)
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(－)
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(2.3)
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(2.6)
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(2.4)
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(3.0)
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USA
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2.1
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1.7
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1.4
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1.7
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2.4
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1.6
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1.5
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1.7
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1.8
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1.6
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1.6
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1.7
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(1.5)
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(1.8)
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(1.9)
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(－)
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(1.7)
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(1.5)
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(1.3)
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(－)
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(1.3)
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(1.6)
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(0.8)
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(2.3)
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JAPAN
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0.9
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0.8
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1.2
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1.1
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0.7
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1.1
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1.0
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1.2
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1.4
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1.2
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0.9
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0.8
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(1.0)
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(0.6)
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(0.9)
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(－)
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(0.7)
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(1.1)
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(1.0)
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(－)
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(1.4)
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(1.2)
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(0.7)
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(0.6)
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EURO
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0.9
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1.7
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1.1
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1.5
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0.5
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1.5
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0.9
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1.5
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0.8
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1.6
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0.7
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1.6
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(1.2)
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(1.8)
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(1.2)
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(－)
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(0.4)
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(1.5)
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(1.1)
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(－)
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(0.8)
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(1.6)
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(1.3)
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(2.3)
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CHINA
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4.6
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4.1
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4.7
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4.5
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4.7
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4.5
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4.7
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4.2
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4.7
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4.4
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4.5
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4.3
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(4.2)
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(4.1)
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(4.8)
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(－)
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(4.7)
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(4.5)
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(4.6)
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(－)
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(4.9)
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(4.4)
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(4.6)
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(4.4)
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WORLD
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3.3
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3.6
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2.4
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3.2
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-
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-
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2.7
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3.3
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2.4
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3.3
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2.3
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3.1
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TRADE
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(3.5)
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(3.7)
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(－)
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(－)
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(－)
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(－)
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(－)
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(－)
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(2.4)
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(3.4)
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(2.8)
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(3.0)
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Note:： ( ) advance estimate。
Source：
1. IMF：World Economic Outlook（January 30th 2024）
2. UN：World Economic Situation and Prospects 2024（January 04th 2024）
3. S&P Global（February 15th 2024）
4. OECD：OECD Economic Outlook（November 29th 2023）
5. EIU：One-click Report：World（forecast closing date：February 13th 2024）
6. WB：Global Economic Prospects（January 2024）
7. Organized by the Department of Industrial Development of the Taiwan Institute of Economic Research.
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¢ Taiwan Economic Overview
Key Domestic Economic Indicators in 2023: The real GDP grew by 1.31%. The value of export orders reached US$561.04 billion, marking a year-on-year decrease of 15.86%. Total exports were valued at US$432.48 billion, reflecting a year-on-year decline of 9.79%. The industrial production index and the manufacturing industry production index increased to 86.11 and 85.56, respectively, indicating a year-on-year decrease of 12.45% and 12.88%.
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Indicator
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Statistical interval
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Data
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YoY
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GDP (％)
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2023
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1.31
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—
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Export Orders
(US$ billion)
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2023
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561.04
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q15.86％
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Custom Exports
(US$ billion)
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2023
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432.48
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q9.79％
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Industrial Production Index in Taiwan
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2023
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86.11
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q12.45％
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¢Taipei Econ Overview
As of December 2023, a total of 239,835 businesses were registered in Taipei City. This represents an increase of 4,709 businesses from the previous year, marking a year-on-year growth of 2.00%. The registered capital of enterprises in Taipei City reached 14.72 trillion, up by 4.09% over the same period last year. The number of registered factories in Taipei City stood at 920, showing an annual decrease of 5.35%.
The number of profit-seeking enterprises in Taipei City amounted to 249,209, with total income from these enterprises reaching 17.13 trillion, an annual increase of 0.30%. The tertiary sector reported sales of 13.85 trillion, achieving an annual growth of 3.73%. Approved foreign investments in Taipei City totaled US$90.36 billion, an annual increase of 25.15%. The number of newly established foreign companies in Taipei City was 222, remaining unchanged from the previous year.
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Indicator
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Statistical interval
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Data
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YoY
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Industry & Business Registration
(Number)
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Dec 2023
(bottom value)
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239,835
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p2.00％
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Total Capital of Companies Registered
(NT$ trillion))
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Dec 2023
(bottom value)
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14.72
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▲4.09％
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Factory Registration
(Number)
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Dec 2023
(bottom value)
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920
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q5.35％
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The Number of the Profit-seeking Enterprise
(Number)
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Dec 2023
(bottom value)
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249,209
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p1.99％
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The Amount of the Profit-seeking Enterprise Income
(NT$ trillion)
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2023
(whole year)
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17.13
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p0.30％
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Sales of Tertiary Industry
(NT$ trillion)
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2023
(whole year)
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13.85
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p3.73％
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Foreign Direct Investment
(US$ hundred million)
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2023
(whole year)
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90.36
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p25.15％
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Number of Newly Established Foreign Companies
(Number)
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2023
(whole year)
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222
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—
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