TAIPEI, Feb 18 (AFP): Taiwan forecast GDP will rise by 2.82 per cent in 2014 Tuesday, putting the country on course to enjoy its biggest growth figure in three years.
Authorities adjusted the figure upward by 0.23 per cent points from its earlier estimate of 2.59 per cent outlined in November, the Directorate General of Budget, Accounting and Statistics said.
The revised forecast growth figure was the highest since 2011 when the economy posted a rise of 4.19 per cent, it said.
The GDP of the export-reliant economy has been buoyed by stable economic recovery of the industrialised countries and improved domestic consumption.
Despite the upgrade, the predicted growth momentum -- mainly from the export sector -- would not be robust, the agency said.
Full-year exports in 2014 were forecast at $315.6 billion, a rise of 3.33 per cent, which the agency said "would be still lower than the global trade growth forecast".
According to the prediction of International Monetary Fund, the world's trade volume was forecast to rise 4.5 per cent this year, up from 2.7 per cent last year.
The Taiwanese government agency also adjusted upward the GDP growth for the three months to December to 2.95 per cent year-on-year, up from the 2.92 per cent estimated.
Taiwan set for biggest annual GDP growth since 2011
FE Team | Published: February 19, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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