S Korea and Taiwan’s GDP increase in Q1

According to media reports, South Korea and Taiwan’s economy posted growth in Q1 of 2017.

The data showed that South Korea’s GDP climbed 2.7% on a yearly basis and by 0.9% quarter-on-quarter in Q1 of 2017. Contributing to the growth, facilities investment increased by 4.3% on the back of a growth in machinery while manufacturing rose by 2% with an increase in production of semiconductors, machinery and equipment. The construction investment as well as construction was also up by 5.3% and 4% respectively.

Similarly, Taiwan’s GDP grew by 2.56% year-on-year in Q1 in 2017, which was slightly slower than a growth of 2.88% in the previous quarter. The country’s GDP was also up by 2.93% quarter-on-quarter, which was faster than the 1.82% in Q4 of 2016. Contributing to the growth, real gross capital formation climbed by 8.1% while exports of goods and services as well as imports were up by 6.99% and 7.15% respectively.