June 2017  
Continuing global economic recovery paves the way for stronger external demand
TIER composite indicators signal slower growth of Taiwan's second half this year
The Bureau of Economic Analysis (BEA) adjusted its Q1 estimate of the US GDP growth upward by 0.1 percentage points. In addition, the Eurostats also ascendingly revised its Q1 estimate of Euro Zone and European Union as a whole. The revisions suggest that continuing global economic recovery paves the way for stronger external demand. However, Taiwan's growth of recovery may turn tepid according to the composite indicators recently issued by the Taiwan Institute of Economic Research (TIER). Despite the fact that Taiwan's exports and export orders continue to grow, the increasing costs of raw materials have made industries more conservative in viewing the business conditions in the near future.
Taiwan's exports in May 2017 increased by 8.43% compared with the same month of 2016. Regarding imports, Taiwan's imports in May 2017 increased by 10.2% compared with imports in May 2016. From January 1st till the end of May this year, Taiwan's exports and imports gave a trade surplus of US$ 17.02 billion or a decrease by 17.15% on a y-o-y basis.
Taiwan's consumer price index (CPI) went up by 0.59% in May 2017 compared with the same month of previous year. The current inflation rate has gradually moved back up compared with previous months. The core inflation rate stood at a relatively more heated ratio as 1.11% in May, 2017. In addition, the wholesale price index (WPI) decreased by 1.91% in May 2017 on the year-on-year basis.
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Unemployment is at its lowest in two years
Taiwan's unemployment rate fell 0.01 percentage points from a month earlier to 3.66 percent in May, the lowest level in two years, according to government data released in June. The May figure was down 0.18 percentage points compared with the same month of last year, the Directorate General of Budget, Accounting and Statistics (DGBAS) said. The DGBAS said that after seasonal adjustments, the latest jobless rate was up 0.01 percentage points from a month earlier at 3.79 percent. There were 431,000 workers without jobs in May, 1,000, or 0.23 percent, fewer than in April, the data shows.(Source: The China Post)

The Executive Yuan has instructed the Ministry of Economic Affairs (MOEA) to launch the "2017 Summer Battle Plan for Energy-Saving" to establish models and encourage public participation (Source: MOEA)
Taiwan Economic Research Monthly
Taiwan's circular economy and its energy resource integration
The opportunity and challenges of promoting circular economy in Taiwan
The circular economy cannot be achieved by a single strategy; it has to take account of country’s natural resources, industry and technology, political and economic situation and consumption patterns to conduct the strategy which could meet the sustainable development. Therefore, there are several distinctive circular economies in different countries. Taiwan is moving forwards a high value of circular economy system to create the economic benefit, environmental benefit and resource security by adopting innovative reform and sustainable business model.
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