Taiwan economy expands 3.04pc in Q1

Driven by strong exports and private consumption, Taiwan’s economy expanded 3.04 per cent in the first quarter on a year-on-year basis, according to an estimate from the island’s statistics authority Friday, reports Xinhua .

The result beat an earlier forecast of 2.77 per cent made by the same agency in February.

Exports of goods and services grew by 6.03 per cent , mainly driven by the

strong demand for electronic components and machinery. Imports also increased

by 5.61 per cent .

Private final consumption grew by 3.02 per cent , mainly reflecting the increase of consumption in transport, recreation and culture, and financial services, said the press release.

On the same day, the island’s development council released a series of monthly business indicators for March.

The overall monitoring indicator remained green but four components out of nine, including the index of producer’s shipment for manufacturing, were yellow-blue.

Color codes are used by the island to gauge economic health, with red signaling economic boom, green for steady growth and blue for recession.  Yellow-red light and yellow-blue light are transitional.

 

 

Taiwan economy expands 3.04pc in Q1

Driven by strong exports and private consumption, Taiwans economy expanded 3.04 per cent in the first quarter on a year-on-year basis, according to an estimate from the islands statistics authority Friday, reports Xinhua . The result beat an earlier forecast of 2.77 per cent made by the same agency in February. Exports of goods and services grew by 6.03 per cent , mainly driven by the strong demand for electronic components and machinery. Imports also increased by 5.61 per cent . Private final consumption grew by 3.02 per cent , mainly reflecting the increase of consumption in transport, recreation and culture, and financial services, said the press release. On the same day, the islands development council released a series of monthly business indicators for March. The overall monitoring indicator remained green but four components out of nine, including the index of producers shipment for manufacturing, were yellow-blue. Color codes are used by the island to gauge economic health, with red signaling economic boom, green for steady growth and blue for recession. Yellow-red light and yellow-blue light are transitional.