After registering 4.1% growth in 2011, Taipei,China’s economy slowed
to 1.3% expansion in 2012 (Figure 3.13.1). Exports of goods and services
declined in the first half of the year owing to the slow...
down in the PRC
and the continued weakness in major industrialized economies but
eventually recovered and grew by 3.1% as demand for electronics and
precision products picked up. Imports of goods and services declined by
1.9% as domestic demand faltered. Net exports contributed 1.1 percentage
points to real GDP growth.
Consumer unease caused lower retail sales, curbing growth in private
consumption that, with a modest rise in government consumption, saw
total consumption increase by only 1.3%. This narrowed consumption’s
contribution to growth to 0.84 percentage points. Total investments
contracted by 4.2%, as the government stimulus measures had waned
since 2009, and as the private enterprises trimmed their investment
outlays (Figure 3.13.2).
Source: Directorate-General of Budget, Accounting and Statistics (DGBAS). http://eng.stat.gov.tw (accessed 14 March 2013) - National Bank on China - http://www.pbc.gov.cn/
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