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S Korea and Taiwan’s GDP increase in Q1

by ChemOrbis Editorial Team -
  • 28/04/2017 (14:29)
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.
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