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Taiwan Raises GDP Growth
Taiwan Raises GDP Growth

Taiwan Raises GDP Growth

Taiwan Raises GDP Growth

Solid demand for the components Taiwan pumps out for tech gadgets has led the island to slightly raise its growth forecast for this year and predict further gains in 2018, Reuters reported. On Friday, Taiwan nudged up the 2017 projection to 2.11% from the 2.05% seen in May and 1.92% predicted in February. The last time Taiwan’s full-year growth topped 2% was in 2014, when it was 4.01%. The export-driven economy can have 2018 growth of 2.27%, the directorate general of budget, accounting and statistics said. The agency also marginally amended second-quarter GDP expansion to 2.13% from the 2.10% released last month. Exports were strong early this year, and the second half is traditionally the strong season for components. “With demand growing in the hot season in the second half of the year, exports momentum can get a boost from new handheld device launches and continued strong demand for new applications in vehicles, Internet of Things and artificial intelligence,” the agency said.

 

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