Taiwan GDP Growth Accelerates In Q2

(RTTNews) - Taiwan's economy expanded at an accelerated pace in the second quarter, according to advance estimates by the Directorate General of Budget, Accounting, and Statistics, or DGBAS, revealed on Thursday.

Gross domestic product, or GDP, advanced 7.96 percent year-on-year in the June quarter, faster than the 5.48 percent increase in the March quarter. The expected growth rate was 5.70 percent.

On the expenditure side, private final consumption grew by 0.56 percent over the year, and government final consumption rose by 2.85 percent.

Gross capital formation in the domestic economy increased by 5.56 percent amid more investments in machinery equipment, construction, transportation equipment, and intellectual property products. Exports of goods and services grew 35.10 percent, and imports were 31.95 percent higher.

On a quarter-on-quarter seasonally adjusted annual basis, GDP rose 12.89 percent, faster than the 7.25 percent expansion a quarter ago.