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Taiwan Ratings upbeat on Taiwan's GDP growth in 2017, 2018
 

2017/01/18

 

Taipei, Jan. 18 (CNA) The Taiwan Ratings Corp. (TRC) has predicted that Taiwan will see growth of 2 percent in its gross domestic product (GDP) this year and a 2.5 percent rise in 2018, surpassing the levels of both Hong Kong and Singapore.

Taiwan's economic growth will jump from 0.9 percent in 2016 to the levels forecast by the rating agency's mother company, Standard & Poor's International, the TRC said in its 2017 Taiwan Credit Outlook report, published on Wednesday.

The 2 percent GDP growth for this year will be higher than the 1.7 percent predicted for Hong Kong, and the 1.3 percent for Singapore, the report said.

In the report, South Korea is forecast to achieve GDP growth of 2.7 percent in 2017, the highest among the so-called "Four Asian Tigers" -- Taiwan, Hong Kong, Singapore and South Korea.

GDP in 2018 will see growth of 2.9 percent in South Korea, 2.5 percent in Taiwan, 2.0 percent in Hong Kong and 2.0 percent in Singapore, according to S&P's rating.

TRC credit analyst Lan Yu-han (藍于涵) said Taiwan's economic development will benefit from a gradual recovery of the U.S. economy in the coming two years, as well as economic stability in the emerging countries.

These two factors are expected to help boost Taiwan's exports in the near future, Lan said.

However, the growth momentum might be slow in the first few months of this year due to a slow recovery in mainland China and Europe and increasing competition from other exporters, Lan said.

(By Tsai Yi-chu and Elizabeth Hsu)

 

Link, http://focustaiwan.tw/news/aeco/201701180017.aspx

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