Business & Economic Optimism Abound February was a down month for manufacturers in Taiwan this year, according to the results of a monthly business outlook survey conducted by the Taiwan Institute of Economic Research (TIER). It makes sense: February is already the shortest month of the year. Add to that the fact that both the…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Higher growth forecasts meet concerns of overheating As the first quarter comes to a close, many economic institutions are raising their forecasts for Taiwan’s 2021 economic growth. On March 24, the Yuanta-Polaris Research Institute projected annual GDP growth…
By Austin Babb and Jason Wu Forecasts Rise, As Do Exports Prospects continue to look positive for Taiwan’s economy in 2021. The National Development Council (NDC) forecast in mid-February that Taiwan’s GDP could expand by more than 4% this year. A few days later, the Directorate-General of Budget, Accounting and Statistics (DGBAS) upgraded its own…
This year’s Business Climate Survey results indicated a record high level of optimism in the Taiwan economy among our member companies. Nearly 86% were confident about Taiwan’s economic growth in the next 12 months – up from around 60% one year ago. Such an outlook may seem counterintuitive given the impact of COVID-19 (80% of…
Taiwan has capitalized on the U.S.-China trade dispute and superb pandemic control to revitalize its position as a technology hub. In less than three years’ time, Taiwan has rejuvenated its position in global supply chains. The exodus of manufacturers to China is ancient history. Instead, many of them have been choosing to come home, first…
By Austin Babb and Jason Wu Sustained Growth Expected in 2021 While the combined effects of COVID-19 and the U.S.-China trade dispute caused many economies to contract in 2020, Taiwan boasted GDP growth of a projected 2.54%, 0.98 percentage points higher than forecasts made earlier in the year. This growth can be attributed primarily to…
A bi-weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Pegatron enters Tesla supply chain Apple supplier Pegatron has recently expanded its cooperation with U.S. car producer Tesla. According to news sources, Pegatron has recently entered Tesla’s charging station supply chain and is expected to move into mass…
DBS economist Ma Tieying takes the most bullish view of Taiwan’s economic prospects for 2021, forecasting GDP growth of 4.2%. The most cautious position among those interviewed for this report was from Yuanta-Polaris Research Institute President Liang Kuo-yuan, whose forecast is “at least 3%.” In between is the government’s own statistics agency, which expects growth…
Taiwan has been a major beneficiary of global circumstances in 2020. It must now take steps to maintain economic momentum as a new year approaches. Despite a devastating pandemic that the International Monetary Fund predicts will shrink the world economy by 4.4% this year, Taiwan proved itself to be a global economic star. It was one…
Ending the Year on a High Note With the winter months approaching and much of the world experiencing upticks in COVID-19 cases and deaths, new lockdown measures in Europe and the U.S. could result in a drop in demand for end products and a slowing of economic recovery. That prospect has not done much to…
