Taiwan 1Q20 economic growth rate estimated at 1.59%, says DGBAS
by Adam Hwang, DIGITIMES, TaipeiTaiwan's economic growth rate for the first quarter of 2020 is estimated at 1.59%, 0.05pp higher than the preliminary estimation of 1.54% made in April 2020 and the lowest quarterly level since the second quarter of 2016, according to the Directorate General of Budget, Accounting and Statistics (DGBAS) on May 28.
The economic growth rate in 2020 is forecast at 1.67%. In comparison, economic growth rates in 2020 are forecast at 0.5% for China, -8.1% for Singapore, -0.9% for South Korea, -6.6% for Hong Kong, -7.3% for the US and -8.2% for EU, DGBAS said.
| DGBAS: Taiwan economic status | ||||
| Time | Economic growth | Y/Y in consumer price index | GDP per capita | GNI per capita |
| 2019(e) | 2.71% | 0.56% | US$25,893 | US$26,514 |
| 1Q20(e) | 1.59% | 0.54% | US$6,509 | US$6,815 |
| 2020(f) | 1.59% | (0.32%) | US$27,131 | US$27,867 |
Source: DGBAS, compiled by Digitimes, May 2020