Office of Labour Affairs in Taipei: Taiwanese GDP growth exceed 2% in Q2




The Executive Yuan’s Budget, Accounting and Statistic Bureau reported the Gross Domestic Product (GDP) of Taiwan grew 2.7 percent in the second quarter of 2013, higher than the earlier projection of 1.98 percent. The economic expansion was attributed to more-than-expected exports growth, especially in electronics, mineral products and optical products for screens and plastic products. Exports for communication-related products also experienced growth after falling in the red zone for five consecutive quarters.


In the period, food businesses saw a minus growth after Taiwan was hit by bird flu and food safety concerns which slowed food exports. Beverage businesses, however, experienced positive growth. Consumption in the second quarter improved, especially in the financial market where the value of stock trading was 12.44 percent higher than the corresponding period in the previous year and the collection of fee to the mutual fund saw a 44.55 percent growth. The growth in consumption was supported by an increase in number of newly registered small private cars, sales of car fuels and improved performance of retail businesses.


Office of Labour Affairs in Taipei