The government’s statistics office is predicting that the GDP growth rate will be 3.78% this year in Taiwan. That’s nearly a four year high.
The National Development Council said this is a sign the economy is growing. But many global factors are still uncertain. It said the economies in the EU, Japan and China are slowing down so that may affect Taiwan.
Global Insight and the International Monetary Fund are predicting a growth of 3% for the US economy, but only about 1% for the EU and Japan.
The drop in global oil prices is good news for many companies but it has posed a big challenge for Russia and other oil-exporting nations. The council said this could affect the plastics and mineral products industries which might have an impact on Taiwan’s exports.