Local food and alcohol importers have developed an attractive market in Taiwan, but must navigate the island’s complex bureaucracy, high tariffs on certain goods, and strict customs requirements. A pleasant Friday evening for many people includes a tender steak accompanied by a glass of wine or a cocktail. As a European, I never thought much…
The mass market is growing fast, driven by Prosecco and Cava, while Champagne still dominates the high end. Red wine has long dominated Taiwan’s wine market, buoyed by the brand power of Bordeaux and Burgundy. Most white and rosé wines have struggled by comparison. Sparkling wine is an exception. Champagne has a strong brand here,…
Exports are up as global GDP growth is on the rise, but uncertainty over energy and labor remain hurdles for Taiwan’s economy. Please see this month’s Taiwan Business TOPICS Cover Section for a comprehensive look Taiwan’s current macroeconomic conditions and forecast for 2018.
Optimism Grows The characteristically pessimistic Taiwanese consumer is slightly less gloomy, according to a pair of recent surveys. In a Cathay Financial Holding Co. survey, 26.7% of respondents said they think the economy will improve over the next six months, compared to 32.4% who said it would deteriorate. This is the most upbeat result the…
Export Recovery Fuels Higher GDP Growth Optimism regarding Taiwan’s economy is rising alongside trade figures as the island continues to benefit from the ongoing recovery in the global economy. Nearly all of the local economic analytics firms have raised their forecasts for GDP growth for 2017, with Academia Sinica, Taiwan’s top academic research institution, coming…
Improvement Seen in 2017 Outlook Economists are increasingly bullish on Taiwan’s growth prospects through 2017, with three local forecasting organizations raising GDP growth projections to over 2% for the year. The Chung-Hua Institution for Economic Research (CIER) announced on April 19 that it had raised its forecast from 1.73% to 2.11%. “The stronger-than-expected momentum of…
Exports Buoyed By Global Tide Taiwan’s exports continued to rise in February in annual comparisons as the island’s trade-dependent economy makes up ground lost during a 17-month slump that only began turning around this past fall. Exports reached US$46.4 billion for the first two months of the year, a 16% rise compared to last year….
iPhone to the Rescue – Again The importance of the iPhone to Taiwan’s economy was demonstrated once again when in July it helped bring the first uptick in the country’s exports following 17 straight months of declines. Taiwan’s exports, a key driver of growth and domestic investment, posted 1.2% growth in July year-on-year, according to…
Following Bloomberg’s relegation of Taiwan to its inglorious Recession Club for 2016, along with economic disappointments Ukraine, Russia, and Brazil, Deputy Minister Kao Shien-quey of the National Development Council sought to reassure the public that “this year should not be so bad.” She said she sees the economy as likely to bottom out in the…
GDP Growth Plummets on Falling Exports Economics is surely an inexact science, as indicated by the massive recalculation currently going on for Taiwan’s GDP growth forecasts for 2015. On August 14, the Directorate-General of Budget, Accounting and Statistics (DGBAS) slashed growth forecasts for the year from the 3.75% announced at year’s start to just 1.56%….
