Focus Taiwan
Date: 2019/10/31
By: Flor Wang and Pan Tzi-yu

Taipei, Oct. 31 (CNA) Taiwan's government Thursday announced the seasonally adjusted annualized rate (SAAR) for gross domestic product in Q3 at 2.91 percent, an increase of 0.24 percentage points from its forecast in August.

The figure marks the largest quarterly growth in the SAAR for nearly five quarters, boosted by higher domestic production, strong global demand and booming domestic investment, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported.

The DGBAS attributed the rise to an increase in domestic investment by Taiwanese businesspeople with operations overseas, mainly China, and to orders local companies have received from other countries due to the ongoing trade war between the United States and China.

As the SAAR estimate for Q3 economic growth is higher than the previous DGBAS forecast of 2.67 percent in August, a DGBAS official said Taiwan's economy is expected to gain greater momentum than expected, pushing the economic growth rate for the whole year up to 2.53 percent.
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