Taiwan’s GDP grew 0.64% in the second quarter, way below an earlier forecast of 3.05%. This is also the lowest growth in nearly 12 quarters.
The government statistics office said the meager growth reflected weak economic performance in the three-month period, including a 13.9% year-on-year drop in exports in June. In addition, the number of Chinese tourists visiting Taiwan also recorded a 2.92% decrease.
The statistics office also said that if the growth rates for the third and fourth quarters remain the same as forecast, the GDP growth rate for the whole of 2015 will be around 2.68%. This is lower than the 3% growth rate forecast by both the government and major think tanks.
The office said the actual result will depend on how the economy performs in the second half of this year.