December 14, 2006
The Directorate General of Accounting, Budget, and Statistics (DGBAS) adjusted its Q3 growth projections for Taiwan's economy upwards to 5.02%, as exports in Q3 performed better than expected, growing 18.6%. DGBAS also revised its yearly growth projections for the Taiwan economy from 4.28% to 4.39%.
These figures were announced at a recent conference on national income statistics and prospects for the domestic economy, which was held by DGBAS.
Commodities and service exports showed a 13.1% year-on-year increase, which pushed growth in the manufacturing sector by 8.2%, and within the manufacturing industry, the electronics components business saw a 20% increase, said Hsu Chang-yao, Director-General of DGBAS.
Construction and engineering projects saw year-on-year growth of 16.6% thanks to a continuing real estate boom, while machinery equipment grew 11% on increased orders. Overall private fixed investment grew 5.6% on last year.
Export growth in Q4 is expected to continue, with a projected trade surplus for the year at
USD 19.9 billion, said Hsu.
At the conference, Hsu also brought good news of falling consumer prices. As oil prices have dropped since peaking in July and with no unusual weather, vegetable and prices have remained stable, allowing the CPI in Q3 to drop by 0.3%. DGBAS has since revised its yearly forecast downwards to show a CPI increase of 0.7%, the lowest in Taiwan in three years.
(Central News Agency)
E-mail this page.
Invest in Taiwan
