TAIWAN ECONOMY: 2016 Q4
|
|
- Hector Adams
- 6 years ago
- Views:
Transcription
1 TAIWAN ECONOMY: 2016 Q4 14 February 2017 SUMMARY Taiwan s economy gains momentum as it registers healthy growth of 2.58% in Q4, the highest level for two years. Key drivers were increasing consumption, investment and a growing trade surplus. Preliminary official estimates are that the Taiwanese economy grew by 1.4% overall in 2016, higher than the 1% growth predicted earlier in the year. The official GDP forecast for 2017 has been revised up to 1.87%, given positive indicators both domestically and in Taiwan s key export markets. Taiwan s goods exports registered double-digit growth of 11.7% (yoy) this quarter, semiconductors exports grew by 28.1%, leading overall exports of ICT products to increase by 21.9%. Q4 investments in semiconductor equipments and transportation offer further signs of encouragement for these traditionally strong sectors of the economy. Macro Economy 1. According to preliminary official statistics released on 25 January, Taiwan s Q4 GDP growth was 2.58% year-on-year (yoy), the highest since 2015 Q1, up from 2.03% in Q2. 2. Robust growth in Q4 pushed up the annualised growth for 2016 to 1.40%, as GDP reached a level of US$ billion. 3. The Directorate of General of Budgets, Accounting and Statistics (DGBAS) attributed the growth to consumption and increased investment - particularly in the semiconductor and transport sectors which respectively contributed 0.70% and 1.70% to GDP. Taiwan s exports and imports also grew by 8.16% and 9.43% respectively in Q4, leading to a trade surplus which contributed 0.37% (yoy) to the GDP growth. 1
2 4. The latest 2017 annual growth estimates by international analysts, think tanks, officials and banks have been revised up to 1.7% 2.0%. (DGBAS: 1.87%; CIER: 1.73%; TIER: 1.74%; Yuanta-Polaris: 1.8%; Academia Sinica: 1.68%; IMF: 1.7%; Standard and Poor s: 2.0%; Global Insight: 1.7%). 5. Most key economic indicators provide reasons for modest optimism about Taiwan s economic growth prospects in the coming months. The Purchasing Managers Index (PMI) was 55.9% in December, indicating that manufacturing industries are expanding. The Consumer Price Index (CPI) increased by 1.70% (yoy) in December, meaning that the annual rate of inflation in 2016 was 1.40% well within the government s 2% inflation target. The Central Bank kept its base interest rate at 1.375% in December. 6. The unemployment rate was 3.79% in December, averaging down the annualised unemployment rate to 3.92%. Unemployment remained well within the government s 4% target, as it has done for the last three years. Labour force reached 7.48 million in November. Wages increased by 0.5% in the three months to November to an average of 1,302 (NT$48,887) per month. Sector Performance 7. Accounting for 29% of GDP, the largest sector of Taiwan s economy manufacturing performed strongly again in Q4 with 6.1% growth (yoy). The transportation and storage sector also grew by 8.6%, reflecting actual business activities rather than increments or financial adjustments. 8. The performance of other important sectors of the economy saw: wholesale and retail grow by 4.1%; electricity consumption rise by 2.5%; though the construction sector declined by 2.0%. For the first time in 15 months, financial services fell by 1.0% (yoy); this was not entirely unexpected when compared to Q which saw strong growth of 7.2%. Overall, however, the sector grew by 1.99% in
3 9. Separately, annual figures showed that inbound tourists to Taiwan grew by 2.4% and reached the historical high at 10.7 million. This was in spite of a significant drop of 16.67% (yoy) in the number of Chinese tourists as visitors from the mainland fell from 4.2 million in 2015 to 3.5 million in Trade Performance 10. Following Q3 s moderate recovery (+0.1%), Taiwan s goods exports registered doubledigit growth of 11.7% (yoy) in Q4. Significant contributions came from semiconductors exports (grew by 28.1%) which led overall exports of ICT products up by 21.9%. 11. Almost all export sectors grew extensively: machine tools and parts by 15.2%; plastic products by 12.6%; optical products by 12.4%; and mineral and petrochemical products by 9.6%. 12. The main destinations for Taiwan s exports in Q4 were: mainland China (incl. Hong Kong) with 42.5%, ASEAN (excl. Cambodia, Myanmar, Laos and Brunei 1 ) with 18.2%, the US with 11.5%, Europe with 8.6%, and Japan with 6.6%. Taiwan Political Economy 13. New British Representative Catherine Nettleton had an introductory meeting with President Tsai Ing-Wen on 24 January. They discussed the UK-Taiwan trade and investment relationship and the potential for Taiwan to collaborate with the UK on a number of sectors that are key for its industrial development plans. Tsai agreed that the UK could be as a useful partner as Taiwan sought to diversify its economic partnerships and thought that working together to foster innovation would be of mutual benefit. 14. On 3 February 2017, Premier Lin Chuan announced the first cabinet reshuffle by the Democratic Progressive Party administration since it took power in May Minister of Labour was replaced by incumbent Minister without Portfolio Lin Mei-Chu ( 林美珠 ). Other changes saw Chen Shih-Chung ( 陳時中 ) become Minister of Health and Welfare and Yilan County Magistrate Lin Tsung-hsien ( 林聰賢 ) appointed as the new Chairman of 1 Taiwan does not have significant bilateral trade with these four ASEAN members. Therefore, the statistics are not published on a monthly/quarterly basis. 3
4 the Council of Agriculture. Former Deputy Minister of Education Chen Liang-Gee ( 陳良 基 ) took up a new role as the Minister of Science and Technology. 15. On 27 January 2017, the European Commission concluded a decision to impose antidumping measures on two steel products stainless steel tube and pipe butt-welding fittings from China and Taiwan. Taiwanese exports on these products now faced to the anti-dumping duties ranging from 5.1% to 12.1% (N.B. Chinese exports would face 30.7%-64.9% duties). Another anti-dumping case against China and Taiwan for their stainless steel cold rolled flat products is still under investigation by the European Commission. Taiwan Corporate update 16. Taiwanese innovation was in the spotlights at the 50th Consumer Electronics Show (CES 2017) in Las Vegas in January with new products in robotics, augmented reality and virtual reality attracting particular attention. 17. Taiwan s publically sponsored Industrial Technology Research Institute (ITRI) presented their personalised robot chess player at CES Analysts assess that the robot s cutting-edge "intelligent vision system" means that it can act with greater precision than many of its peers. Contact Ta-Ching Shih Ph.D. Senior Economic Officer Uta-ching.shih@fco.gov.ukU ANNEX Economic Indicators 2 Taiwan South Korea Mainland China United Kingdom GDP (nominal, US$) 529 billion 1,404 billion 11,392 billion 2,650 billion GDP per capita (US$) 22,495 27,633 8,261 40,412 2 Most data in the table is taken from IMF, World Bank, and official figures to ensure consistency. 4
5 Q4 GDP growth (%) 2.6% 0.4% 6.8% 0.6% Q4 Goods Exports(US$) 77.8 billion billion billion N/A Unemployment rate (%) 3.8% 3.2% 4.0% 4.8% Inflation rate 1.7% 2.0% 2.1% 1.6% (As of January 2017) 5
The Economic Outlook of Taiwan
The Economic Outlook of Taiwan by Ray Yeutien Chou and Shou-Yung Yin The Institute of Economics, Academia Sinica, Taipei October 2016 Prepared for Project LINK 2016 Fall Meeting, Toronto City, Oct. 19-21,
More information2015 Taiwan Economic Forecast
2015 Taiwan Economic Forecast Ching-Cheng Chang Ray Y. Chou Kamhon Kan Shin-Kun Peng Wen-Jen Tsay Academia Sinica, Institute of Economics December 16, 2014 2015 Taiwan Economic Forecast : Continuing moderate
More informationECONOMIC PROSPECTS FOR HONG KONG IN Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong
ECONOMIC PROSPECTS FOR HONG KONG IN 2016-17 Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong I. The Current Trends Real gross domestic product (GDP) in Hong Kong increased 1.7 percent
More informationECONOMIC PROSPECTS FOR HONG KONG IN Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong
ECONOMIC PROSPECTS FOR HONG KONG IN 2015-16 Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong I. The Current Trends Real gross domestic product (GDP) in Hong Kong increased 2.8 percent
More informationThe Economic Outlook of Taiwan
The Economic Outlook of Taiwan by Ray Yeutien Chou and An-Chi Wu The Institute of Economics, Academia Sinica, Taipei October 2017 1 Prepared for Project LINK 2017 Fall Meeting, Geneva, Oct. 3-5, 2017 2
More informationECONOMIC PROSPECTS FOR HONG KONG IN Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong
ECONOMIC PROSPECTS FOR HONG KONG IN 2014-15 Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong I. The Current Trends Real gross domestic product (GDP) in Hong Kong slowed to 1.8 percent
More informationTAIWAN S S ECONOMIC SITUATION AND OUTLOOK
TAIWAN S S ECONOMIC SITUATION AND OUTLOOK March 2011 Council for Economic Planning Development Executive Yuan CONTENTS I. CURRENT DOMESTIC SITUATION Economic Growth Foreign Trade Domestic Consumption Domestic
More informationReal Gross Domestic Product (GDP) of Hong Kong increased 0.9 percent in the first half
Economic Prospects of Hong Kong in 2012-13 Win Lin Chou, City University of Hong Kong Prepared for United Nations Project LINK Meeting in New York, October 22-24, 2012 I. The Current Trends Real Gross
More informationECONOMIC OUTLOOK FOR SOUTHEAST ASIA, CHINA AND INDIA 2018:
ECONOMIC OUTLOOK FOR SOUTHEAST ASIA, CHINA AND INDIA 2018: FOSTERING GROWTH THROUGH DIGITALISATION Kensuke Tanaka, Head of Asia Desk OECD Development Centre Asia-Pacific Business Forum, Hong Kong, China
More informationCLSA Investors Forum September Mrs Margaret Leung Vice-Chairman and Chief Executive Hang Seng Bank
CLSA Investors Forum 2011 21 September 2011 Mrs Margaret Leung Vice-Chairman and Chief Executive Hang Seng Bank Good afternoon, ladies and gentlemen. I am delighted to have the opportunity to speak with
More informationVietnam Looking Forward
Looking Forward 1 in Regional Perspectives Compared to its regional peers, economy, although the smallest in size, is the most dynamic in terms of growth. GDP growth (%) USD 395 Bn 8.0 7.0 6.0 5.0 4.0
More informationECONOMY REPORT - CHINESE TAIPEI
ECONOMY REPORT - CHINESE TAIPEI (Extracted from 2001 Economic Outlook) REAL GROSS DOMESTIC PRODUCT The Chinese Taipei economy grew strongly during the first three quarters of 2000, thanks largely to robust
More informationHKU announces 2015 Q2 HK Macroeconomic Forecast
Press Release HKU announces 2015 Q2 HK Macroeconomic Forecast April 9, 2015 1 Overview The APEC Studies Programme of the Hong Kong Institute of Economics and Business Strategy at the University of Hong
More informationChina in the World Trade System
Phone: (852) 2609-8600; Fax: (852) 2603-5230 Email: LAWRENCELAU@CUHK.EDU.HK; WebPages: http ://www.cuhk.edu.hk/vc China in the World Trade System Lawrence J. Lau, Ph. D., D. Soc. Sc. (hon.) Vice-Chancellor
More informationInvestor Presentation. For 3Q18
Investor Presentation For 3Q18 Bangkok Bank 1. Operating Environment 2. Our Key Focus and Position 3. Our Financial Result 3Q18 2 For 2018, global economic expansion remains solid However, the outlook
More informationCharting Brunei s Economy
Charting Brunei s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June
More informationPart. Situation and Economic Indicators of SMEs in 2012 and 2013
Part 01 Situation and Economic Indicators of SMEs in 2012 and 2013 Chapter 1 + Gross Domestic Product of SMEs 1 Gross Domestic Product of SMEs The overall gross domestic product (GDP) of 2012 expanded
More informationTHE SWISS AND WORLD WATCHMAKING INDUSTRIES IN % +9.1% -4.4% Hong Kong USA China Japan United Kingdom
THE SWISS AND WORLD WATCHMAKING INDUSTRIES IN 2018 SWISS WATCH EXPORTS 21.2 billion francs +6.3% The outturn for watch industry exports in 2018 was in line with forecasts. The steady pace of growth early
More informationFocus on: Hong Kong. International Business Report 2011 Economy focus series
Focus on: Hong Kong International Business Report 11 Economy focus series The recovery The economy rebounded strongly in, posting growth of 6.8 per cent as recovering global demand boosted exports. Prospects
More informationECONOMY. The High-Growth Era. Japan s economy in an era of globalization
Web Japan http://web-japan.org/ ECONOMY Japan s economy in an era of globalization The Tokyo Stock Exchange Tokyo Stock Exchange The High-Growth Era Japan s postwar economy developed from the remnants
More informationASEAN-Korea Economic Relationship:
ASEAN-Korea Economic Relationship: A Road to More Active Future Cooperation. Choong Lyol Lee, Professor Department of Economics and Statistics Korea University at Sejong ASEAN-Korea Economic Relationship:
More informationChina, P.R.: Hong Kong SEB MERCHANT BANKING COUNTRY RISK ANALYSIS Nov. 30, 2015
www.seb.se/mb Our services > Research/Country analysis China, P.R.: Hong Kong SEB MERCHANT BANKING COUNTRY RISK ANALYSIS Nov. 30, 2015 Analyst: Rolf Danielsen. Tel : +46 8 763 83 92 E-mail :rolf.danielsen@seb.se
More information2012 6 http://www.bochk.com 2 3 4 ECONOMIC REVIEW(A Monthly Issue) June, 2012 Economics & Strategic Planning Department http://www.bochk.com An Analysis on the Plunge in Hong Kong s GDP Growth and Prospects
More informationIntroduction to PHILIPPINES
Introduction to PHILIPPINES With a population of about 100 million people, the Philippines, which comprises more than 7,000 islands, is the 12th most populous country in the world. An additional 12 million
More informationHong Kong BUSINESS MOMENTUM 2014
Hong Kong BUSINESS MOMENTUM 2014 OCTOBER 2014 TABLE OF CONTENTS OVERVIEW.3 Companies Aspire To Growth; Taking Caution Of The Uncertain Business Environment ECONOMIC OUTLOOK..4 Expected To Be Largely Stable
More informationBin Yuan Capital First Quarter 2017
Bin Yuan Capital First Quarter 2017 Market Review The Chinese stocks consolidated in March after increasing for two consecutive months in January and February. During the first quarter, the Shanghai Composite
More informationEconomics. Market Insight Tuesday, 6 June, Malaysia Economy. Exports and Imports slowed down in April. Chart 1: Malaysia: External Trade
Market Insight Tuesday, 6 June, 2017 RM'bn Jan'10 Jan'11 Jan'12 Jan'13 Jan'14 Jan'15 Jan'16 Jan'17 % y-o-y Imran Nurginias Ibrahim imran@bimbsec.com.my PP16795/03/2013(031743) 03-26131733 www.bisonline.com
More informationIntroduction to VIETNAM
Introduction to VIETNAM Vietnam is a densely populated, emerging economy that has implemented market-oriented reforms since 1986 and benefited from large foreign direct investment inflows since its accession
More informationCOMMISSION IMPLEMENTING REGULATION (EU)
L 98/10 11.4.2017 COMMISSION IMPLEMTING REGULATION (EU) 2017/679 of 10 April 2017 terminating the absorption reinvestigation concerning imports of stainless steel cold-rolled flat products originating
More informationHKU announces 2015 Q3 HK Macroeconomic Forecast
Press Release HKU announces 2015 Q3 HK Macroeconomic Forecast July 7, 2015 1 Overview The APEC Studies Programme of the Hong Kong Institute of Economics and Business Strategy at the University of Hong
More informationECONOMY REPORT - BRUNEI DARUSSALAM
ECONOMY REPORT - BRUNEI DARUSSALAM (Extracted from 2001 Economic Outlook) REAL GROSS DOMESTIC PRODUCT In 2000, Brunei Darussalam s economy improved and grew at 3 percent, compared to 2.5 percent in the
More informationGLOBAL MACROECONOMIC SCENARIOS
_ ACP2005: Best Case Scenario GLOBAL MACROECONOMIC SCENARIOS AND WORLD TRADE STATISTICS AND FORECAST FOR THE PANAMA CANAL AUTHORITY Contract SAA-146531 Global Macroeconomic Outlook: Best Case World United
More informationHong Kong Economy: Recovering from Recession?
Irina Fan Senior Economist irinafan@hangseng.com Joanne Yim Chief Economist joanneyim@hangseng.com September 29 Hong Kong Economy: Recovering from Recession? Hong Kong staged a strong rebound in the second
More informationThe AEC and Taiwan-Indonesia Economic Partnership: A Taiwan Business perspective
The AEC and Taiwan-Indonesia Economic Partnership: A Taiwan Business perspective Apr- 29-2015 Kristy Hsu Program Director, Taiwan ASEAN Studies Center, Chung Hua Institution for Economic Research April
More informationChina Economic Outlook 2018 Feb 13, 2018
Feb 13, Key Developments in Brief Economic Development Drivers of Growth Risks Predicted GDP growth of 6.5% in In 2017 growth exceeded the official target Service and modern production grow faster than
More informationYen and Yuan. The Impact of Exchange Rate Fluctuations on the Asian Economies. C. H. Kwan RIETI
Yen and Yuan The Impact of Exchange Rate Fluctuations on the Asian Economies C. H. Kwan RIETI November 21 The Yen-dollar Rate as the Major Determinant of Asian Economic Growth -4-3 -2 Stronger Yen Yen
More informationQuarterly Economic Outlook: Quarter on 25 September 2018 Strong Economic Expansions amidst Uncertainty of Trade War
Foregin Direct Investment (Billion USD) China U.S. Asia World Quarterly Economic Outlook: Quarter 3 2018 on 25 September 2018 Strong Economic Expansions amidst Uncertainty of Trade War Thai Economy: Thai
More information2. Supply trend and final demand
(1) Outline of supply trend for final demand 1 supply trend 2. Supply trend and final demand The overall supply for final demand increased by 1.0% compared to the previous year, up for the fifth consecutive
More informationASEAN+3 Regional Economic Outlook (AREO) 2017: Risks and Opportunities 24 May 2017, Renmin University, China
22 May 2017 ASEAN+3 Regional Economic Outlook (AREO) 2017: Risks and Opportunities 24 May 2017, Renmin University, China Introduction: About AMRO Mandate Conduct macroeconomic and financial surveillance
More informationAsia-Pacific Trade Briefs: Hong Kong, China
i Asia-Pacific Trade Briefs: Hong Kong, China Merchandise Trade Hong Kong, China has a trade-to-gdp ratio of 386.95%. Merchandise trade accounted for 86.3% of Hong Kong, China's total trade in 2017. Hong
More informationUK ECONOMY SITUATION & PROSPECTS
UK ECONOMY SITUATION & PROSPECTS 26 November 2013 Hermione Gough Counsellor Europe and Global Issues British Embassy Paris UNCLASSIFIED 1 The pace of recovery picked up further in Q3, with UK GDP expanding
More informationCharting Mexico s Economy
Charting Mexico s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June
More informationASEAN Insights: Regional trends
ASEAN Insights: Regional trends January 2017 1. Global trends GLOBAL ECONOMY AND EQUITY MARKETS ENTER 2017 ON A STRONG NOTE DESPITE GEOPOLITICAL UNCERTAINTIES The global economy entered 2017 on a strong
More informationThe Big Picture. Long-Term Trends in Global Infrastructure Investment and Commodity Prices. Warren Hogan. Chief Economist.
The Big Picture Long-Term Trends in Global Infrastructure Investment and Commodity Prices Warren Hogan Chief Economist May 212 Outline Global Infrastructure Spending Trends Catching up for the industrialised
More informationEconomic Outlook. Global And Finnish. Technology Industries In Finland Economic uncertainty has not had a major impact yet p. 5.
Economic Outlook Technology Industries of 1 219 Global And Finnish Economic Outlook Uncertainty dims growth outlook p. 3 Technology Industries In Economic uncertainty has not had a major impact yet p.
More informationOther Notes Numbers of shares issued (Common stock) (ⅰ) Number of shares outstanding at end of period (Including treasury stock) June, ,904,35
Consolidated Financial Report [IFRS] For the First Quarter Ended June 30, 2018 Listed Company: Hitachi Metals, Ltd. (URL http://www.hitachi-metals.co.jp/e/index.html) Listed Stock Exchanges: Tokyo Stock
More informationStrong Asian Growth. Asian Bond Markets Initiative
Strong Asian Growth and Asian Bond Markets Initiative OECD-ADBI 11 th Roundtable on Capital Market Reform in Asia 22-23 February 2010 Tokyo, Japan Takehiko Nakao Director-General, International Bureau
More informationAsia Key Economic and Financial Indicators 13-Jul-17
Asia Key Economic and Financial Indicators -Jul-7 ASEAN Brunei (BN) Cambodia (KH) Indonesia () Laos (LA) Malaysia () Myanmar (MM) Philippines () Singapore () Thailand () Vietnam () East Asia China (CN)
More informationIII. TRADE IN COMMERCIAL SERVICES
.. The Highlights Transportation The economic crisis has severely hit sea transportation In 2008, world exports of transportation increased by 16 per cent, to US$ 890 billion. Exports grew by more than
More informationRole of PTAs for Promoting MSMEs Integration in GVCs
Role of PTAs for Promoting MSMEs Integration in GVCs Masato Abe, Ph.D. IEDS, TIID, ESCAP Regional Dialogue on ENHANCING THE CONTRIBUTION OF PREFERENTIAL TRADE AGREEMENTS TO INCLUSIVE AND EQUITABLE TRADE
More informationMarket Report (KOREA)
Market Report (KOREA) Presented by Korea Financial Investment Association Macro-Economic Overview 2017-2018 Korea s per capita gross national income (GNI) registered USD 29,744 in 2017, up by 7.5% from
More informationMarket Watch. Latest monthly commentary from the Investment Markets Research team at BT. March Review Developments in Financial Markets
Market Watch Latest monthly commentary from the Investment Markets Research team at BT. March Review 2018 INSIDE THIS ISSUE Stock markets were blindsided on the first day of March, when US President Donald
More informationSession 1 : Economic Integration in Asia: Recent trends Session 2 : Winners and losers in economic integration: Discussion
Session 1 : 09.00-10.30 Economic Integration in Asia: Recent trends Session 2 : 11.00-12.00 Winners and losers in economic integration: Discussion Session 3 : 12.30-14.00 The Impact of Economic Integration
More informationThe Korean Economy: Resilience amid Turbulence
The Korean Economy: Resilience amid Turbulence Dr. Il SaKong Special Economic Advisor Adviser to the President Republic of Korea November 17, 17, 2008 November 17, 2008 1. Recent Macroeconomic Developments
More informationMalaysia- GDP & BOP 1Q17
Real GDP growth surprised on the upside in 1Q17 Real GDP growth rose by 5.6% in 1Q17, exceeding market expectations Malaysia s real GDP growth rose by 5.6% yoy in 1Q17 (4.5% in 4Q16), significantly higher
More informationThe Rise of Greater China and the Prospect of Hong Kong
The Rise of Greater China and the Prospect of Hong Kong Dr. XIAO Geng The University of Hong Kong 29 November 2003 Competitiveness = 1 / (transaction costs + factor costs) Transaction costs Costs of inadequate
More informationMalaysia. Real Sector. Economic recovery is gaining momentum.
Malaysia Real Sector Economic recovery is gaining momentum. Malaysia s economy grew 4.7% in the first three quarters of 23, well above the year-earlier pace of 3.7%. GDP rose 5.1% in the third quarter,
More informationECONOMY REPORT - JAPAN
ECONOMY REPORT - JAPAN (Extracted from 2001 Economic Outlook) REAL GROSS DOMESTIC PRODUCT The Japanese economy was on a gradual recovery from the trough of the business cycle in April 1999, helped by both
More informationChina Economic Update Q April 27, 2018
il 27, 2018 Key Developments in Brief Economic Development Drivers of Growth Risks Predicted GDP growth of 6.5% in Service and modern production Corporate debt, esp. stateowned 2018 grow fast enterprises
More informationKey Insights. Macro Pulse. Japan was out of the technical recession in Q
MACRO REPORT Japan Economy Update March 2015 Key Insights Monica Defend Head of Global Asset Allocation Research Alessia Berardi Senior Economist Global Asset Allocation Research Also contributing Riccardo
More informationCharting Myanmar s Economy
Charting Myanmar s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June
More informationMonthly Report of Prospects for Japan's Economy
Monthly Report of Prospects for Japan's Economy June 1 Macro Economic Research Centre Economics Department http://www.jri.co.jp/english/periodical/ This report is the revised English version of the May
More informationFinancing the MDG Gaps in the Asia-Pacific
Financing the MDG Gaps in the Asia-Pacific Dr. Nagesh Kumar Chief Economist, ESCAP And Director, ESCAP Subregional Office for South and South-West Asia, New Delhi 1 2 Outline Closing the poverty gap: interactions
More informationDOMINICAN REPUBLIC. 1. General trends
Economic Survey of Latin America and the Caribbean 2016 1 DOMINICAN REPUBLIC 1. General trends The economy of the Dominican Republic grew by 7.0% in 2015, compared with 7.3% in 2014. That growth is driven
More informationIntroduction to MALAYSIA
Introduction to MALAYSIA Malaysia is an upper-middle income, highly open economy with a record of strong economic performance and poverty reduction since independence from Great Britain in 1957. Malaysia
More informationNavigator. Now, next and how for business. Vietnam report
Navigator Now, next and how for business Vietnam report 2 Vietnam Foreign investments remain key in servicing fast-growing external demand Surging manufacturing-related foreign direct investments have
More informationASEAN Snapshot. Special Coverage On Tourism May 2018 ASEAN ESTABLISHMENT ASEAN ECONOMIC PERFORMANCE ASEAN COUNTRIES DECLARED INDEPENDENCE
Snapshot Special Coverage On Tourism May 2018 The Association of Southeast Asian Nations () was established on 08 August 1967 in Bangkok,, with the signing of the Declaration. -10 was formed when the 10th
More informationCECIMO Statistical Toolbox
European Association of the Machine Tool Industries Where manufacturing begins In this edition: 0 Introduction 1 Machine tool orders 1.1 CECIMO orders 1.2 Peter Meier s forecast CECIMO Statistical Toolbox
More informationASEAN Insights: Regional trends
ASEAN Insights: Regional trends December 2017 1. Global trends CONSUMER AND BUSINESS CONFIDENCE ROBUST; UNEMPLOYMENT RATE FALLS WHILE INFLATION EDGES UP The global economic environment continued on its
More informationCountry in the Spotlight - France
Country in the Spotlight - France On a slippery path The French economic recovery remains on track, though it becomes hard to bank on a strong acceleration given that the main recovery drivers were temporary
More informationThe cross-strait Economic relations after the Global Financial Crisis. Tristan Liu. Taiwan Institute of Economic Research
The cross-strait Economic relations after the Global Financial Crisis Tristan Liu Taiwan Institute of Economic Research 1. Historical Pattern China-Taiwan trade relations during late 90s to mid 00s have
More informationImproved Macroeconomic Conditions Boost Consumer Sentiment to Its Highest Level in 3½-Year
ECONOMIC REPORT Business & Consumer Confidence 17 April 2018 Improved Macroeconomic Conditions Boost Consumer Sentiment to Its Highest Level in 3½-Year MIER s CSI rebounded to 3.5-year high. Underpin by
More informationSIP Aggressive Portfolio
SIP LIFESTYLE PORTFOLIOS FACT SHEET (NOV 2015) SIP Aggressive Portfolio SIP Aggressive Portfolio is a unitized fund, which is designed to provide long term capital growth. It is designed for those who
More informationJapanese Stock Market Outlook. SMAM monthly comments & views - October
Japanese Stock Market Outlook SMAM monthly comments & views - October 2015 - Executive summary Japanese Economy Japanese economy was dragged by stalling private consumption and exports though extremely
More informationInvestor Presentation. For 2017
Investor Presentation For 2017 Bangkok Bank 1. Operating Environment 2. Our Key Focus and Position 3. Our Financial Result 2017 2 For 2018, global economic expansion is synchronous with rising global investment
More informationOutlook and Strategy Asia/Global Funds
Q4207 Outlook and Strategy Asia/Global Funds Investment Theme Interest Rate Normalisation Causes Short-term Volatility for Global Bonds The strong economic data in the U.S. and eurozone will continue to
More informationSouth Korea: new growth model emerging?
ING Business Opportunity Report Economics Department South Korea: new growth model emerging? Summary conclusions The growth outlook for Korea in the short to medium term is positive. ING forecasts economic
More informationCHINA S HIGH-TECH EXPORTS: MYTH AND REALITY
CHINA S HIGH-TECH EXPORTS: MYTH AND REALITY XING Yuqing EAI Background Brief No. 506 Date of Publication: 25 February 2010 Executive Summary 1. According to an OECD report, in 2006, China surpassed EU-27,
More informationGlobalization and Outsourcing Don Rosenfield Session 21
Globalization and Outsourcing Don Rosenfield Session 21 The articles suggest a number of questions What do recent trends suggest for global strategies (e.g changes in Chinese sourcing)? What are strategies
More informationBi-Monthly Stainless Steel Briefing
Bi-Monthly Stainless Steel Briefing Summary of Main Industry Events Issue 27, December 2011 Contents Stainless Steel at a Glance PMI (Economic Indicator) Chinese Exports European Industry News Relevant
More informationAsia Key Economic and Financial Indicators 20-Oct-16
Asia Key Economic and Financial Indicators -Oct- ASEAN Brunei (BN) Cambodia (KH) Indonesia () Laos (LA) Malaysia () Myanmar (MM) Philippines () Singapore () Thailand () Vietnam () East Asia China (CN)
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Thirty-Fourth Meeting October 8, 2016 IMFC Statement by Zhou Xiaochuan Governor, People's Bank of China People s Republic of China On behalf of the People's
More informationThe Outlook for European Economies
The Outlook for European Economies Domestic demand-led moderate economic growth forecast to continue REIKO SHINOHARA ECONOMIC RESEARCH OFFICE TOKYO SHIN TAKAYAMA ECONOMIC RESEARCH OFFICE LONDON MUFG Bank,
More informationAsia/Pacific Economic Overview
Copyright E. I. du Pont de Nemours and Company. All rights reserved. Distribution, reproduction or copying of this copyrighted work without express written permission of DuPont is prohibited. Asia/Pacific
More informationKey developments and outlook
1/17 Key developments and outlook Economic growths in 2016 and 2017 remain close to the previous assessment. Better-than-expected merchandise exports and private consumption compensate for weaker-than-expected
More informationCan Malaysia Create Better Returns for Global Investors? Dato Richard Azlan Abas Chief Executive Officer MALAYSIAN DIRECTORS ACADEMY (MINDA)
Can Malaysia Create Better Returns for Global Investors? Dato Richard Azlan Abas Chief Executive Officer MALAYSIAN DIRECTORS ACADEMY (MINDA) Can Malaysia Create Better Returns for Global Investors? Malaysia
More informationMonthly Economic Insight
Monthly Economic Insight Prepared by : TMB Analytics Date: 22 February 2018 Executive Summary Synchronized global economic growth continued to brighten global economic outlook and global trade outlook.
More informationAsian Insights Third quarter 2016 Asia s commitment in policies and reforms
Asian Insights Third quarter 2016 Asia s commitment in policies and reforms One of the commonalities between most Asian governments is the dedicated commitment they have in using policies and initiatives
More informationInvestor Presentation. For 2017
Investor Presentation For 2017 Bangkok Bank 1. Operating Environment 2. Our Key Focus and Position 3. Our Financial Result 2017 2 For 2018, global economic expansion is synchronous with rising global investment
More informationRHB Bank Posts 16% Growth in Net Profit at RM1.16 billion for First Half of 2018
RHB Bank Posts 16% Growth in Net Profit at RM1.16 billion for First Half of 2018 Total income grew 8.1% Y-o-Y Pre-tax profit rose 19.3% to RM1.56 billion Cost-to-income ratio improved further to 49.1%
More informationChina and Los Angeles County: Growing Together
China and Los Angeles County: Growing Together LAEDC International Trade Outlook June 5, 2014 Ferdinando Nando Guerra International Economist, Los Angeles County Economic Development Corporation (LAEDC)
More informationPre-Budget Brief Singapore
Pre-Budget Brief 2018 Singapore Contents Economic indicators 1 Economic trends 2 Singapore tax rates a history 3 Co rporate tax Prevailing corporate income tax rates in selected countries 5 as at 1 January
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Thirty-Seventh Meeting April 20 21, 2018 IMFC Statement by Yi Gang Governor of the People s Bank of China People s Republic of China On behalf of People s
More informationStable Labor Market Promotes Wage Growth
2 June 2017 ECONOMIC REVIEW 2016 Salaries & Wages Stable Labor Market Promotes Wage Growth Wage growth registered at 6.4% in 2016. Malaysia s median wage grew by 6.4% to RM1,703 last year. The wage growth
More informationTaiwan chart book Policy remains neutral
Economics Taiwan chart book Policy remains neutral Group Research October 18 Ma Tieying Economist Please direct distribution queries to Violet Lee +6 687881 violetleeyh@dbs.com Charts of the month Export
More informationLAO ECONOMIC MONITOR APRIL 2017
LAO ECONOMIC MONITOR APRIL 2017 May-June 2017 1. Recent Economic Developments and Outlook 2. Health Sector Financing in Lao PDR 1. Recent Economic Developments Contents 1. Key findings 2. Growth and inflation
More informationCHINA BIWEEKLY. Innovation in the Electronics and Information Technology Manufacturing Industry Developed Significantly in 2017
CHINA BIWEEKLY RMB Internationalization Business Promotion Office Global Business Division December 24th 2018 BIWEEKLY DIGEST [Economy] Manufacturing PMI in Distinct Downward Trend, Recording 50.0 Points
More informationMonthly Bulletin of Economic Trends: Review of the Australian Economy
MELBOURNE INSTITUTE Applied Economic & Social Research Monthly Bulletin of Economic Trends: Review of the Australian Economy March 2018 Released on 22 March 2018 Outlook for Australia 1 Economic Activity
More informationVICTORIAN BUILDING & CONSTRUCTION INDUSTRY OUTLOOK
VICTORIAN BUILDING & CONSTRUCTION INDUSTRY OUTLOOK MARCH 2017 QUARTERLY UPDATE 15 JUNE 2017 PREPARED FOR THE MASTER BUILDERS ASSOCIATION OF VICTORIA STAFF RESPONSIBLE FOR THIS REPORT WERE: Director Senior
More informationAIA Delivers Strong New Business Growth for the Third Quarter of 2018 Value of New Business up 17 per cent on constant exchange rates
香港中環干諾道中一號友邦金融中心三十五樓 AIA Group Limited 35/F, AIA Central 1 Connaught Road Central Hong Kong T: (852) 2832 6166 F: (852) 2838 2005 AIA.COM Media Release AIA Delivers Strong New Business Growth for the Third
More information