By Courtney Donovan Smith Experts Split On Economic Forecast Uncertainty about inflation and supply chain resilience have led various organizations to reach different projections about the economy’s direction this year. The Chung-Hua Institution for Economic Research (CIER) in April raised its forecast of Taiwan’s 2022 GDP growth by 0.29 percentage points to 3.96%. CIER attributed…
Year 2021 Ends with Record Exports Taiwan’s export value for December reached US$40.72 billion, a year-on-year increase of 23.4%, according to the Ministry of Economic Affairs (MOEA). December’s robust export performance concluded a year that also saw GDP growth of over 6%. The cumulative export value for 2021 reached US$445.45 billion, representing annual growth of 29.4%….
Ending The Year on A High Note Taiwan has managed to buck its severest coronavirus outbreak, coming out relatively unscathed in 2021. As proof, the island’s exports have continued to soar, reaching another record monthly high of US$40.14 billion in October. Meanwhile, the Directorate General of Budgeting, Accounting and Statistics (DGBAS) in late November raised…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Inflation Hits Taiwan’s Restaurant Industry Taiwanese restaurant group Wowprime Corp. has announced that, starting from October 25, it will raise prices at its 15 restaurant establishments by around 5%. Wowprime, whose brands in Taiwan include popular spots…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Strong Demand for Technology Drives Increased GDP Growth Even as Taiwan has struggled to contain a local outbreak of COVID-19, the international community continues to have confidence in Taiwan’s economy. Taiwan Ratings, the Taiwan subsidiary of S&P Global…
China’s recent ban on pineapple imports from Taiwan provides an occasion for policymakers to rethink the island’s dependence on the Chinese market for agricultural exports. In late February, just as Taiwan’s pineapple season was set to begin, China’s General Administration of Customs announced that it would suspend the import of Taiwanese pineapples beginning March 1….
Is the IMF being too negative? In the International Monetary Fund’s World Economic Outlook for April, Taiwan’s GDP forecast for 2020 was set at a horrendous -4%, a figure that government officials are doing their best to refute. The National Development Council is arguing that the IMF did not have full knowledge of Taiwan’s economy…
EXPORTS UP, BUT NOT FOR LONG Taiwan is moving into wartime economy territory, with the government and industry working together to boost production of key items such as medical masks and alcohol-based sanitizer. After a panic run on amenities following a large jump in confirmed cases in March, several local companies pledged to increase production of toilet…
The novel coronavirus outbreak is set to do damage to Taiwan’s tech hardware exports, but the severity of the blow will depend on the length of the crisis. Taiwan has undeniably reaped some benefits from the U.S.-China trade dispute as local manufacturers repatriate supply chains from across the Taiwan Strait. Exports to the U.S. have…
Positive Indications on the Trade Front Given Taiwan’s heavy reliance on international trade for its economic momentum, the past several weeks brought some encouraging news. Announcement of Taiwan’s trade figures for July showed that exports had continued to increase for the fifth consecutive month. At US$29.36 billion, export value in July was 4.7% higher than…
