Taiwan's economic growth rate, on-year growth in GDP, for third-quarter 2019 is preliminarily estimated at 2.91%, 0.24 percentage point higher than 2.67% forecast in August 2019 and the highest quarterly level since third-quarter 2018 , according to the Directorate General of Budget, Accounting and Statistics (DGBAS) on October 31.
South Korea, Singapore and Hong Kong recorded third-quarter 2019 economic growth rates of 2.0%, 0.1% and -2.9% respectively, DGBAS said.
Taiwan's relatively good performance was mainly because some orders for exports to the US had been shifted to Taiwan-based makers and many Taiwan-based manufacturers with factories in China have been shifting production lines back home amid the US-China trade disputes, DGBAS said.
Taiwan's economic growth for January-September 2019 has been adjusted to 2.39%, DGBAS said.
DGBAS: Taiwan economic situation | ||||
Economic growth | On-year CPI increase | GDP per capita | GNI per capita | |
2Q19 (re-estimated) | 2.40% | 0.81% | US$6,027 | US$6,129 |
3Q19 (preliminarily estimated) | 2.91% | 0.41% | US$6,260 | US$6,474 |
2019 (forecast) | 2.53% (adjusted from 2.46% forecast in August 2019) | 0.67% | US$24,677 | US$25,332 |
2020 (forecast) | 2.58% | 0.82% | US$25,332 | US$25,880 |
Source: DGBAS, compiled by Digitimes, November 2019
