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Taiwan economy likely to grow above 6% this year, finance minister says By Reuters

by Mike Robinson

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TAIPEI (Reuters) – Taiwan’s economy is likely to grow more than 6% this year, Finance Minister Su Jain-rong said on Wednesday, offering a forecast slightly more optimistic than the central bank’s outlook last week.

Su spoke out while answering questions from parliamentarians.

As strong exports had bolstered an economy dependent on trade, Su made the comment while taking questions from lawmakers in parliament. This has helped the island to grow despite the COVID-19 cases.

After a June forecast of 5.08%, the central banks raised its 2021 GDP growth estimate to 5.75%.

After growing 2.71% in 2019, the 2020 growth rate was 3.11%.

After growing by 2.71 percent in 2019, Taiwan’s GDP grew by 7.43% during the second quarter 2021. This was down from 8.92% the previous quarter. The decrease in growth can be attributed to a partial lockdown that prevented domestic COVID-19 infection from spreading.

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