GDP up 3.78% year-on-year over third quarter國內生產總值達3.78％，比去年同期比第三季度
November 1, 2014, 1:02 am TWN
Despite the better-than expected growth, domestic demand was affected in the quarter by food safety concerns, pushing down revenue growth in the local restaurant business to 2.55 percent from the second quarter's 4.58 percent.
After seasonal adjustments, the third quarter GDP was up 1.98 percent from a quarter earlier.Citing an advance estimate, the DGBAS said that the third quarter GDP growth reached the highest level since the fourth quarter of 2012, when the local economy grew 3.85 percent from a year earlier.
TAIPEI -- Taiwan's gross domestic product (GDP) rose 3.78 percent from a year earlier in the third quarter, beating an earlier government estimate of a 3.62 percent annual increase made in August, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday.
According to the DGBAS, the third quarter sales growth of the local restaurant sector dropped to the lowest level since the third quarter of last year, when growth stood at only 1.37 percent.
Mei Chia-yuan, a specialist with the statistics department of the DGBAS, said that the adverse impact of food safety concerns started to affect operations at local restaurants in September, and the impact is expected to continue into the fourth quarter.
Private consumption was also affected by rising consumer prices, in particular higher dining out costs, the DGBAS said.
It said private consumption for the July-September period grew 2.43 percent from a year earlier, lower than a DGBAS earlier forecast of a 2.80 percent increase.
The higher-than-expected third quarter GDP growth instead largely reflected a strong showing of Taiwan's exports of electronics devices, machinery and base metals. The DGBAS said that the launch of the two new iPhones by Apple Inc. lent significant support to exports of related products.
After inflationary adjustment, Taiwan's real merchandise and services exports for the third quarter rose 7.30 percent, beating the DGBAS's previous prediction of a 5.79 percent increase.
Mei said that it is possible the new iPhones will continue to prompt more consumers in the global market to replace old smartphones, which could keep boosting Taiwan's exports through the fourth quarter.
Real merchandise and services imports rose 8.39 percent from a year earlier during the quarter, also beating an earlier forecast of a 6.64 percent rise, on the back of an increase in capital equipment and consumer products, the DGBAS said.
Real capital formation in Taiwan rose 7.89 percent from a year earlier, higher than an earlier estimate of 7.79 percent, as local airline companies were gearing up to expand their fleets and semiconductor manufacturers were pouring more funds into raising their production capacity.
台北 - 台灣的國內生產總值（GDP）同比上漲3.78％，從去年同期的第三季度，跳動的年均增長八月份3.62％的較早的政府預算，預算，會計核算和統計總局（主計處）說：週五。