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Taiwan’s economy continues to contract in Q4

by ChemOrbis Editorial Team -
  • 29/01/2016 (17:05)
According to media reports, Taiwan’s economy contracted for another quarter in the October-December period. The country’s gross domestic product (GDP) shrank 0.28% on the year in the last quarter of 2015 following a 0.63% contraction in the previous quarter. The decline in the economy for Q4 slightly exceeded Reuters economists’ estimates, which called for a 0.25% decrease in GDP. On a quarterly basis, Taiwan’s GDP grew 3.22% in the fourth quarter.

In 2015, meanwhile, Taiwan’s economy expanded 0.85%, the lowest annual growth since 2009. Slower Taiwanese economic growth was attributed to plunging exports amid weak global growth and a slowdown in the Chinese economy. The country’s exports fell for an 11th consecutive month in December, declining 12.3% on the year.
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