analysisoftaiwaneconomicsituation

Analysis of Taiwan Economic Situation

2019 Q2

The economic growth rate was 2.40% in Q2 in 2019 and the overall economic performance was in stable growth. Due to the trade tensions between the US and China, while global prosperity has decreased. However, with production moving back home and the order transfer effects, the export of integrated circuits has improved. Meanwhile, the products and services export grew by 4.13% with a recovery shown in the increase in the scale of growth while the private consumption grew by 1.55%. The number of overseas orders amounted to US$114.88 billion with a 4.7% decrease, annually. The industrial production index was 106.58 with a 0.58% YOY decrease, while the scale of the decrease has been reduced. The external trade amount has grown with the export amount of US$81.906 billion, still presenting a negative amount. The annual decrease in the overall turnover of wholesale, retail sale, and restaurant sale was 1.4% and the decline was reduced. With the labor participation rate at 59.09% and unemployment at 3.69%, the overall labor market remains stable. The annual growth of CPI was 0.82%, representing a stable consumer price and active financial trades.

 

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2019 Q1

The economic growth rate was 1.71% in Q1 2019, and the overall economic performance grew stably. Since global prosperity has slowed, the purchase of mobile communication products has decreased, the semi-conductor is under inventory adjustment, and the commodities and service output growth was only 0.97%, presenting a slower increase, while the consumption grew 1.32%. The overseas order amount was US$107.98 billion, which was an annual decrease of 8.4%; the industrial production index was 99.07, an annual decrease of 4.58%. Positive growth for 10 consecutive quarters ended. The external trade amount showed negative growth with an export amount of US$76.364 billion. The overall turnover of wholesale, retail sale, and restaurant decreased 1.12% annually, and purchasing slowed. The labor participation rate was 59.08%, unemployment rate was 3.68%, and the overall labor market has remained stable. The annual growth of CPI was 0.33%, the price has remained stable, and financial transactions were active.

 

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2018 Q4

The annual economic growth rate was 2.63% in 2018, and the overall economy showed stable growth. Due to a slowdown in global prosperity and smart phone sales being less than expected, the products and services export grew 1.29%, and the increase was slow. Private consumption grew 1.67%. The export order amount was US$511.82 billion, with annual growth of 3.9%. The industrial production index was 108.33, with annual growth of 3.65%, a new record high. The trade amount maintained stable growth, and the annual export amount was US$336.05 billion. The annual growth regarding the turnover of wholesale, retail sale, and restaurant industries was 3.49%, which was also a new record high. The labor force participation rate was 58.99%, while unemployment was 3.71%, indicating a continuously stable labor market. The 1.35% annual growth of CPI represented a stable price and slow financial transactions.

 

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2018 Q3

Compared with the same period in the previous year, the economic growth rate in 2018 Q3 was 2.27% according to preliminary calculations. Benefitting from stable global economic growth, continuously active emerging technology applications, and high crude oil prices, the export of products and services grew 1.21%. The export order amount was US$133.33 billion, with an annual growth 6.31%, a new record high for that period. The industrial production index was 111.12, with annual growth of 2.39% and slower increase. The trade amount maintained stable growth, and the annual export growth was 3.07 and 13.99% growth in terms of imports. The annual growth regarding the turnover of wholesale, retail sale, and restaurant industries was 3.56%. The employment rate increased 0.73%, while the unemployment rate of 3.81% showed stable and mild improvement. The annual growth of the consumer price index was 1.67%, representing a stable price, and the total monetary amount appeared as a gold cross.

 

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