Economy expected to expand by 5.3% y/y during H2/2011.

By bne IntelliNews July 14, 2011
Taiwan's economy is expected to expand by 5.3% y/y during the second half of this year, owing to healthy global demand for electronic products and the new Chinese FIT program. As reported by Taipei Times, the country's Gross Domestic Product (GDP) is likely to have increased by 4.3% y/y in the last quarter of last year, as compared to the 6.55% y/y growth posted during the preceding quarters, mainly due to the huge global demand for electronic products. The country's service sector as well as the new FTI program is expected to make a bigger contribution in this respect and thus GDP is likely to increase by 0.6% next year, generating employment and reducing the country's dependence on exports, making it less vulnerable to global economic changes.

Economy expected to expand by 5.3% y/y during H2/2011.

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