May 29, 2007
The Taiwan Institute of Economic Research (TIER) has raised its growth forecast for Taiwan's gross domestic product from 4.07% to 4.09%, according to a recent report by the Central News Agency.
In view of its maturing economic and industrial development and by maintaining a growth rate around 4%, Taiwan is showing normal, stable growth, said TIER.
TIER said that future growth is expected as the result of a number of government investment initiatives, which include the expansion of public infrastructure projects, flood disaster management facilities and clean-up of the Shihmen Reservoir, as well as oil refinery, water supply, and railway renovations.
With an improving job market and the consumer debt wave of 2006 subsiding, domestic consumption in Taiwan looks to be more stable and is projected to grow by 2.69%, said TIER.
TIER has also projected growth rates of 8.87% and 9.67% for imports and exports, respectively, while the trade surplus for 2007 is also projected to grow from
USD 21.319 billion to
USD 21.594 billion.
(Central News Agency)
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