World Economy

Taiwan GDP to Grow 1.65% in 2017

Taiwan GDP to Grow  1.65% in 2017Taiwan GDP to Grow  1.65% in 2017

The Taiwan Institute of Economic Research, one of the leading think tanks in the country, said that the domestic economy will pick up next year, recording 1.65% annual growth, Taiwan News Channel reported. Taiwan, which is expected to show a gross domestic product growth of 1.17% this year, will see a better performance next year largely because of higher fixed capital formation and outbound sales, the think tank said. TIER’s 2017 GDP growth forecast of 1.65% was more conservative than the government’s, which projected 1.88% growth. With the global economy showing signs of improving, TIER said, local semiconductor firms and flat panel suppliers are planning to invest more to expand production capacity to meet rising demand. As a result, private investments for 2017 are expected to grow 2.08% from the estimated 1.80% rise in 2016, the think tank said.


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