After Blockbuster Fourth Quarter, Taiwan Says Financial system Could Develop 4% This 12 months

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TAIPEI: Taiwan’s trade-dependent financial system might develop greater than 4% this 12 months on the again of booming demand for its tech merchandise so long as the COVID-19 pandemic stays beneath management, Financial system Minister Wang Mei-hua mentioned on Saturday.

Taiwan’s financial system grew at its quickest tempo in nearly a decade within the fourth quarter after contracting earlier final 12 months. For 2020, preliminary GDP development was put at 2.98%, increased than China’s 2.3% rise final 12 months..

Taiwan, house to main Apple Inc suppliers like Taiwan Semiconductor Manufacturing Co Ltd (TSMC) the world’s largest contract chip maker, has benefited for demand for computer systems and tablets because the pandemic has compelled folks to work and examine from house world wide.

Wang, in an interview with Formosa Tv, mentioned her conversations with Taiwanese corporations led her to consider a GDP development of greater than 4% this 12 months was doable.

“I see how busy they’re. I feel there’s a chance for it to exceed 4%,” she mentioned.

However Wang added that was predicated on the pandemic remaining beneath management.

Whereas Taiwan is at the moment coping with a small and uncommon outbreak of native transmissions related to a single hospital, the massive majority of its 909 confirmed circumstances have been imported from overseas, and the island has by no means gone into lockdown.

In November, the federal government’s statistics division foresaw full-year 2021 development of three.83%, its quickest tempo since 2014. It is because of give an up to date forecast subsequent month.

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