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Data Category: National Accounts Statistics
Data Release Agencies: Directorate-General of Budget, Accounting and Statistics, Executive Yuan
Data Item:Gross domestic product, national income, economic growth rate and deflator

1.Data Compiling and Release Agencies:

   *Release Agency:Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
   *Data Compiling Agency:National Accounts Section, Economic Forecast Section, Industry Input-Output Accounts Section, Department of Statistics, Directorate General of Budget, Accounting & Statistics (DGBAS)
   *Tel No.:886-2-2380-3472, 886-2-2380-3494, 886-2-2380-3529
   *Fax No.:886-2-2380-3486, 886-2-2380-3503, 886-2-2380-3520
   *Email:monica@dgbas.gov.tw¡Bilgb@dgbas.gov.tw¡Bu881358@dgbas.gov.tw

2.Release Form

 (1)Oral:
     *Press Conference or Briefing:YesNone

 (2)Written:

     *Press Release:YesNone

     *Statistic Tables:None.

     *Books
National Accounts Year Book, Statistical Abstract of National Accounts

 (3)Online

     *Online Press Releases, Table, Book or Database, URL1:https://eng.stat.gov.tw/lp.asp?ctNode=2008&CtUnit=1016&BaseDSD=7&mp=5

     *Online Press Releases, Table, Book or Database, URL2:None.

     *Online Press Releases, Table, Book or Database, URL3:None.

     *Online Press Releases, Table, Book or Database, URL4:None.

     *Floppy Disk:YesNone
     *Disc:YesNone
     *Other:None.

3.the Data Scope, Periodicity and Timeliness

     *Coverage and Object:
The geographic coverage of the data is the whole nationwide territory. The GDP is estimated by currency value generated from the economic activities of production, consumption, investments, as well as exports and imports.

     *Statistical Standard Time:
The statistical standard time for current prices data is based on each quarter or year, for chained dollar data is based on year 2016 as the reference year. The statistical standard time for annual data is from Jan 1st to Dec 31st, for quarterly data is from the first day to the last day of that quarter.

     *Definition of Statistical Items:
1. GDP¡GDomestic Production represents the value of all goods and services produced by institutional units (households, enterprises, non-profit units, etc.) within a country (or an economic territory), regardless of these institutions being operated by nationals or foreigners.
2. National Income: Gross national income (GNI) is the sum of a country s gross domestic product (GDP) plus net income (positive or negative) residents earned from abroad. It represents the value produced by a country s economy in a given year, regardless of whether the source of the value d is domestic production or receipts from overseas. As for the produced value earned by residents, which mainly categorized into compensation of employees and property income, is defined as National income (NI). GNI- consumption of fixed capital=NI, since the consumption of fixed capital could not be allocated.
3. Economic Growth Rate¡GThe economic growth rate is calculated based on chained dollar with the reference year of 2016.
4. Implicit Price Deflators: All items are calculated based on current prices and chain-linked approach. Then, the deflator is computed by current prices divided by chained dollars.

     *Statistical Unit:
1.Price(current prices/chained dollars)¡G$NT million dollars
2.Increase/growth rate or percentage¡G%
3.Reference year¡G2016

     *Statistical Classification:
1. Quarterly estimation is calculated by current prices and chained dollars, and the release items are categorized into expenditure side and production side. The release items of expenditure side consists of private final consumption, government consumption, gross of fixed capital formation, change in inventories, as well as exports and imports of goods and services. On production side, the release items are classified by kind of activity.
2.The release items of annual revision also includes domestic production and cost components, gross fixed capital formation by kind of activity, gross domestic product and factor income by kind of activity, income and outlay account.
3. Due to the differences in calculation methods, data sources or the timely basis, there are differences between GDP measured by production, expenditure and income approach and are displayed as ¡§Statistical Discrepancy¡¨.

     *Release Periodicity(the frequency of data compilation or producing, such as month, quarter, year, etc.):Quarterly.

     *Timeliness (the interval between the end of statistical standard time and data release time):
Approximately seven to eight weeks after the end of the reference quarter.

     *Major Change:
1.Since 1953, DGBAS has compiled the data of national income of Taiwan (R.O.C) annually based on the System of National Accounts (SNA, same as below) 1953 published by the United Nations.
2. DGBAS has released quarterly preliminary estimates of national production and income within two months at the end of every season since 1970.
3. Comprehensive revisions of all data were made in since 1988 according to 1968SNA.
4. The terms of economic growth rate of GNP was revised to GDP according to the resolution of the 147th National Income Statistics Committee on Nov. 23rd, 1994.
5. Comprehensive revisions of all data since 2005 according to 1993SNA.
6. Historical data was revised in 2009 and 2014 according to 2008SNA. Since 2014, the real GDP and economic growth rate have been calculated based on chain-linked approach. Furthermore, the term Gross National Product (GNP) has been revised to Gross National Income (GNI) for international comparison.
7. The estimates of balance of payments were revised according to the 6th edition of Balance of Payments and International Investment Position Manual (BPM6) published by International Monetary Fund in 2019.

4.Release Information

     *Announce Release Date in Advance:
The release information will be announced on the DGBAS release schedule and notify the press simultaneously one week prior to the meeting date of National Accounts Statistics Evaluation Committee.

     *Simultaneously Send Unit:
DGBAS website(https://www.dgbas.gov.tw) and National Statistics, R.O.C (Taiwan)(https://eng.stat.gov.tw/).

5.Data Quality

     *Statistical Methodology and Source Data:
1. Quarterly estimate is compiled based on survey and official statistics. Every February the preliminary estimates also provide the annually estimates for the previous year, while more complete data such as tax, business financial reports, or business-related surveys are not available until September. Therefore, this annual preliminary estimates is subject to be revised in November based on annual surveys and d financial reports (i.e. annual revision).
2. Every five years, comprehensive revision including the change in reference year is made based on industry and service census, revised official statistics, and other d surveys.

     *the Mechanism to Ensure the Reliability and Accuracy:
National Accounts statistics is compiled according to SNA, measured by supply(production), demand(expenditure) , and income approach to ensure data accuracy and reliability. The estimation of national accounts is reviewed (evaluated) by the National Accounts Statistics Evaluation Committee composed of experts, scholars, as well as representatives of finance and economic departments.

6.Remarks and Advance Notice of Related Changes:

1. National accounts statistics is compiled according to 2008SNA and the Statistical Classification of Industry (Rev.10).
2. Since 2014, the real GDP and economic growth rate have been calculated based on chain-linked approach.
3. Preliminary estimates: Quarterly preliminary estimates for are announced approximately seven to eight weeks after the end of the reference quarter, which is based on source data that are more complete than the advance estimates. While some sources of data are still not available, the estimates is supported by statistical methods such as correlation analysis, the moving average method, or inference from observed economic activities.
4. Annual revision: The estimates for the previous two years are revised every year in November. The chief goal of this annual revision is to revise preliminary estimates on the basis of d relevant departmental final accounting reports, balance of payments, sampling survey results, and factory operation census, without any changes on the concepts, methods, or release contents.
5. Quinquennial revision: A comprehensive revision is performed in accordance with international convention once every five years, including time series.

7.Other Announcements

     *Notes:
1.The release information will be announced on the DGBAS release schedule five work days prior to the release date. 2.The release time would be postponed due to the meeting time of evaluation committee extended.

     *Regulatory StatusYes No
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