TAIPEI, Jan. 31 (Xinhua) -- Taiwan's economy expanded by 2.84 percent in 2017, slightly above the previous forecast, Taiwan's statistics agency said Wednesday.

Taiwan's gross domestic product (GDP) in the fourth quarter of 2017 increased by 3.28 percent year on year, thanks to stronger export growth and private consumption, according to the agency.

Taiwan's GDP growth rate in the first three quarters of 2017 was 2.64 percent, 2.28 percent and 3.1 percent respectively, while the whole year growth rate was 2.84 percent.

After inflationary adjustment, its real exports of products and services in the fourth quarter of 2017 achieved year-on-year growth of 6.01 percent, while its real imports of products and services registered growth of 1.8 percent.