By Austin Babb and Jason Wu Exports Climb as FOREX Reserves Fall The International Monetary Fund (IMF) in April raised its forecast of Taiwan’s 2021 GDP growth to 4.7%, much higher than the 3.2% figure it provided last October. The organization’s biannual World Economic Outlook report cited a “stronger than anticipated rebound” of the global…
Last month, Central Bank of the Republic of China (CBC) Governor Yang Chin-long spoke to lawmakers regarding the U.S. possibly labeling Taiwan a currency manipulator, one of the criteria for which is a trade surplus with the U.S. of more than US$20 billion. Yang noted that the U.S. market has become increasingly reliant on Taiwan…
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…
By Austin Babb and Jason Wu Taiwan Secures COVID Vaccines As of February 21, Taiwan has secured around 20 million doses of COVID-19 vaccines from three different sources. It is expected to begin a rollout of the vaccine by early March, according to Health and Welfare Minister Chen Shih-chung. Taiwan will obtain 10 million doses…
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…
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…
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…
Sustained Optimism on 2020 Growth National Development Council (NDC) Minister Kung Ming-hsin said that based on recent economic data, Taiwan’s GDP growth rate for 2020 is expected to exceed the government’s August forecast of 1.56%. The more optimistic outlook contrasts with the International Monetary Fund’s prediction that the island would experience zero growth this year,…
Trade Keeps Rising, As Do Spirits Spirits were high at the SEMICON Taiwan 2020 international conference, held both online and offline at the Nangang Exhibition Center in late September. One of the recurring themes was the post-COVID-19 economic rally that Taiwan is experiencing, in contrast to most markets in the West. The government’s effective early…
Taiwan’s initiative in easing restrictions on imports of U.S. beef and pork should bolster its case in favor of a bilateral trade agreement. President Tsai Ing-wen’s August 28 announcement that Taiwan’s restrictions on the import of American pork and beef would be relaxed made clear that the objective was to clear the way for Taiwan…
