Academia Sinica raises Taiwan’s GDP growth forecast to 5.05% in 2021 (2021/07/28)
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    Academia Sinica raises Taiwan’s GDP growth forecast to 5.05% in 2021 (2021/07/28)

    Academia Sinica has raised its GDP growth forecast for Taiwan from 4.24% to 5.05%. That's in line with other major domestic think tanks, which have raised their forecasts based on growth in global demand for Taiwanese products.
    Although experts at Academia Sinica see strong momentum ahead for exports, they say the pandemic will dampen domestic consumer spending.

    Ray Chou
    Institute of Economics, Academia Sinica
    We predict that in 2021, GDP growth will reach 5.05%.

    Morgan Stanley is optimistic about Taiwan’s economy this year, projecting growth of 6.6%. The Academia Sinica also said it’s feeling positive, as it raised its economic growth forecast for the year.

    Ray Chou
    Institute of Economics, Academia Sinica
    Returning Taiwanese investment and developments in 5G, in both the new and old economies, are both vigorous drivers for growth. In addition, international trade is continuing to rise and scale new heights. Supported by the teleworking economy, orders for tech products and optical instruments have risen 40%.

    Taiwan exports remain strong, rising for the 12th consecutive month in June. However, domestic demand has softened under the pandemic. Academia Sinica lowered its projection for consumer spending growth, taking it from 4.17% to 2.05%. In June, retail revenue fell by 13.3%, the biggest drop since 2000.

    Huang Chin-Shing
    Academia Sinica vice president
    After the COVID outbreak in mid-May, the government instated the Level 3 COVID alert, banning dining-in at restaurants. People went out less, which had a considerable impact on domestic demand. It caused furlough numbers to climb.

    Ray Chou
    Institute of Economics, Academia Sinica
    I think that, the sooner stimulus vouchers are handed out, the better. Many industries have been dealt a huge blow. As for how much should be issued in vouchers, I think that, as far as the state coffers allow, the more, the better.

    But experts say that before vouchers are issued, aid should go first to hard-hit industries, to warm up Taiwan’s domestic demand.
    中文 Chinese  
    看好景氣增溫 中研院:台2021年GDP上修至5.05%


    [[中研院經濟研究所研究員 周雨田]]


    [[中研院經濟研究所研究員 周雨田]]


    [[中研院副院長 黃進興]]

    [[中研院經濟研究所研究員 周雨田]]

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