Economic Growth worksheet
Country Taiwan
Units: Million
Year
Real GDP
Calculate here: Growth rate (%)
2010
877,505.30250
6.14%
2011
909,745.37500
3.67
2012
929,955.43750
5.48
2013
953,051.87500
4.22
2014
998,028.62500
6.95
2015
1,012,657.37500
5.38
2016
1,034,582.43750
5.77
2017
1,068, 841.37500
6.85
2018
1,098,183.62500
0.8
2019
1,127,988.75000
1.5
During that period, the economic grew considerably. In each year, the GDP was higher compare
to last year GDP. I think there are no cyclical nature in this time period. The data only shows the
economic boom and the recession is not presented in the economic growth. Therefore, this
cannot be consider as having cyclical nature.
Year
Inflation rate (CPI)
Unemployment rate
Balance of payments
2010
1.12
5.21
8.2
2011
1.37
4.39
8.6
2012
1.62
4.24
9.7
2013
1.03
4.18
11.3
2014
1.35
3.96
13.6
2015
-0.6
3.78
13.1
2016
1.03
3.92
13.1
2017
1.09
3.76
14.1
2018
1.5
3.76
11.6
2019
0.55
3.66
10.6
The economic growth indicators relate to each other to a large extent. Inflation rate can cause
the rising of unemployment. Although Balance of payments since less connected to other
indicators, it also can show the valuable economic events in a nation.
News: https://www.bloomberg.com/news/articles/2022-05-27/taiwan-cuts-2022-growth-forecastas-covid-persists-costs-surge
The news examines Taiwan’s inflation rate. The government policies of reduce costs is not
effective, as the data forecast that Taiwan’s inflation rate in these few years.