Taiwan’s GDP rose 3.78% from a year earlier in the third quarter, beating an earlier government estimate of 3.62%.
The government statistics office made the announcement on Friday. Citing an advance estimate, the office said that the third quarter GDP growth reached the highest level since the fourth quarter of 2012. The office said the growth was mainly due to an increase in electronics, machinery, and base metal exports.
However, despite the better-than-expected growth, domestic demand was affected in the quarter by food safety concerns. This pushed down revenue growth in local restaurants to 2.55% from 4.58% in the second quarter.