Taiwan’s economy grows faster in Q3

Taiwan’s economy expanded for the second quarter in a row in Q3 of 2016 and at a faster rate, the Department of Statistics showed. On a quarterly basis, GDP was up by 3.91% in Q3 when compared to the 0.23% rise in the previous quarter. Meanwhile, the country’s GDP increased by 2.03% in Q3 on a yearly basis following the 1.13% yearly increase in Q2.

Exports of goods and services reportedly rose by 3.59% while imports were up by 5.27%.

According to sources, the agency also slightly raised its forecast for Taiwan’s economic growth for 2016 by 0.13% to 1.35%.