ECONOMY | Staff Reporter, Taiwan

Taiwan GDP grows 2.1% in Q2

But exports posted the slowest growth in three quarters.

Taiwan posted a 2.1% YoY GDP growth, slower than Q1's 2.6%.

On a quarter-to-quarter basis, the GDP growth fell to 0.6% to 3.8%.

In a report by DBS Equity Research, exports of goods and services grew 5% in Q2, but it was the slowest in three quarters.

The country's gross capital formation also increased by a marginal 0.1%, whilst private consumption stood still at 2%.

Imports grew slower than exports at 4.3%. Net exports were able to contribute 0.9 ppt to GDP growth for the quarter.

“There is no change in our view that the economy will regain momentum in 2H17. Among the leading indicators, export orders returned to double-digit growth in June. Consumer confidence has also risen from the bottom, reaching a four-month high of 78.2 in July,” said DBS analysts.

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