Economy improved in fourth quarter of last year: DGBAS

By Linger Liu ,The China Post

TAIPEI, Taiwan — The Directorate General of Budget, Accounting and Statistics (DGBAS) yesterday released adjusted statistics on the economic performance of the fourth quarter of 2012. The DGBAS’ preliminary estimate showed that Taiwan’s seasonally adjusted real gross domestic product (GDP) increased, at an annualized rate, by 7.3 percent in the fourth quarter of 2012.

The DGBAS said the yearly growth rate of unadjusted GDP was 3.72 percent. According to the DGBAS, the economic growth in 2012 was 1.26 percent. The DGBAS forecast the GDP to grow 3.59 percent in 2013. The DGBAS said increasing export demands, both in goods and services, in the fourth quarter of 2012 powered the positive economic performance.

According to the DGBAS, in the third quarter of 2012 the economic growth based the on the seasonally adjusted annualized rate was forecast to be 3.91 percent, and 0.98 percent year-on-year.

The DGBAS said the SAAR and year-on-year economic growth in the third quarter of 2012 were revised to 3.93 percent and 0.73 percent respectively. The bureau said Taiwan’s real GDP grew by 1.26 percent and consumer price index (CPI) increased 1.93 percent in the whole year of 2012.

The world economy is expected to recover at a stable rate in 2013, the DGBAS said. The bureau said despite various uncertain factors, the nation’s exports are expected to grow steadily in 2013.

The DGBAS said if the nation’s domestic investment is increasing, the real GDP is predicted to growth by 3.59 percent in 2013.