Taiwanese economic growth 結果共20筆

President Tsai Ing-wen commits to supporting Taiwan’s industry development, highlighting the country’s export success and plans for post-pandemic recovery. Tsai vows to deepen global economic ties, recognizing the National Importers & Exporters Chamber of Commerce’s role in driving economic growth amidst challenges. Taiwan aims to enhance international competitiveness through agreements with the U.S., U.K., Canada, and others, promoting a prosperous future for Taiwanese industries.

Taiwanese companies are increasing their investments in Southeast Asian countries, capitalizing on the region’s rising consumer purchasing power and strategic economic opportunities. Investments under the New Southbound Policy have seen a dramatic increase in 2024, with significant contributions from key players like Foxconn.

The Purchasing Managers’ Index (PMI) for Asian manufacturing in March shows varying recovery rates across the region, with Taiwan’s manufacturing sector on the rise and confidence among Taiwanese businesses reaching a nearly three-year high. Japan also saw improvement, while South Korea and Vietnam experienced contractions. Paul Smith from S&P Global Market Intelligence notes signs of price and supply stabilization supporting a more optimistic outlook for the Asian manufacturing sector.

Taiwan’s export performance reached a historic high from 2021 to 2023, but experienced a 9.8% decline in 2023 compared to the previous year, according to the Ministry of Finance. Despite this setback, exports to the U.S. continued to soar with a 49.7% year-on-year increase, while exports to countries covered by Taiwan’s New Southbound Policy also saw significant growth. However, exports to mainland China decreased to 35.2%. Taiwan’s total export tally for 2023 amounted to US$432.48 billion, ranking behind only 2022 and 2021. The demand for communications and electronic products during the pandemic-induced work-from-home trend boosted Taiwan’s exports. The Taiwan Institute of Economic Research predicted significant international trade growth in 2024, which would benefit export-oriented economies like Taiwan. In December 2023, Taiwan’s exports to the U.S. reached $8.49 billion, and exports to southern countries surged by over 50%. However, due to the limited coverage of free trade agreements (FTAs), many traditional Taiwanese industries chose to restructure risks and production in Southeast and South Asia. The return of Taiwanese businesses and the expansion of local factories after the U.S.-China trade war, as well as global economic circumstances, significantly impacted the decline in 2023 exports. The Directorate General of Budget, Accounting and Statistics (DGBAS) estimated the first-quarter export volume for 2024 to be around US$106.1 billion, which is an improvement compared to the same period in 2023, but a 10% decrease from 2022.

If Kuomintang (KMT) candidate Hou Yu-ih wins the election, Taiwan’s political and economic situation could undergo significant changes, potentially easing tensions with China, according to a report by Nikkei Asia. Hou, a former police officer, has risen quickly in the political scene and is seen as a ＂law and order＂ poster child. Many Taiwanese voters are tired of President Tsai Ing-wen’s eight-year reign, especially regarding the increasing threat from China and slowing economic growth. Hou frames the election as a choice between peace and war, emphasizing the need to maintain good cross-strait relations. He accepts the 1992 Consensus and promises to restart the Cross-Strait Service Trade Agreement (CSSTA). Additionally, Hou advocates for a tough stance against crime and opposes the abolition of the death penalty, vowing to execute capital punishment if elected.

Taiwanese presidential candidate Lai Ching-te of the Democratic Progressive Party (DPP) has called on the Taiwanese people to use their votes as a defense against what he considers the most serious Chinese interference in the upcoming elections. Lai emphasized that while China has interfered in Taiwan’s elections before, the current situation is the worst. He believes that the best way to counter this interference is to ensure that the candidate supported by China does not win. Lai urged citizens to stand up against this interference by using their ballots to continue Taiwan’s progress and guarantee societal stability, economic growth, and the well-being of its people. He positioned the DPP’s battle not only against opposition parties but also against the Chinese Communist Party, underscoring the importance of maintaining a majority in the legislative yuan to prevent potential government functioning disputes. Lai kicked off his election campaign across 22 counties and cities, stating that this election is crucial for Taiwan’s future and Indo-Pacific peace stability. He encouraged the people to maintain the spirit of the past, choose the right person, and follow the right path.

President Tsai Ing-wen asserts that Taiwan is globally significant economically and does not rely on China as a conduit to the world. Tsai emphasizes the importance of Taichung in the upcoming elections, stating that over 50 percent of presidential and vice presidential votes will come from the city. She acknowledges that inadequate infrastructure has hindered economic growth during her presidency, leading to an investment of NT＄4 trillion in public infrastructure. Tsai also highlights her significant investments in social welfare, including elderly care aids, subsidies for children, and income tax exemptions for 47 percent of the Taiwanese population. She urges support for Democratic Progressive Party (DPP) presidential candidate Lai Ching-te in the 2024 election to continue her approach of incorporating economics, defense, and democracy to protect Taiwan.

Nearly 46% of Taiwanese people expect a salary increase next year, according to a survey by Cathay Financial Holding Co. The survey also found that about 60% of respondents anticipate year-end bonuses ranging from one to three months’ salary, while 8.3% expect bonuses to exceed three months. However, 47.6% of those surveyed expect monthly wages to remain constant. The survey also revealed a conservative estimate for Taiwan’s 2024 economic growth, with an average expectation of 2.52%, contrasting with the more bullish 3.35% forecast by the Directorate-General of Budget, Accounting, and Statistics. Respondents predict an average inflation rate of 2.21%, with 55% believing it will exceed 2%, higher than the directorate’s projection of 1.64% for 2024. The survey was conducted from Dec. 1-7 and gathered 13,379 valid responses through email questionnaires.

A survey by Cathay Financial Holdings reveals that Taiwanese are increasingly optimistic about year-end bonuses and economic prospects. 59.3% of respondents expect bonuses ranging from one to three months’ salary, surpassing last year’s 55%. Furthermore, 8.3% anticipate bonuses exceeding three months’ pay, reflecting an improvement in attitudes towards Taiwan’s economy. The Directorate-General of Budget, Accounting and Statistics predicts a 3.35% economic growth in 2024 with an inflation rate of 1.64%, but the public is more cautious, expecting a 2.52% growth and a 2.21% inflation rate. The optimism index for the local stock market has also improved. Additionally, 45.9% of Taiwanese anticipate salary increases, a 13.2 percentage point increase from 2022, while those expecting a steady monthly income dropped by 10.9 percentage points to 47.6%. Only 32.4% believe their year-end bonus will be less than one month’s salary, a decrease of 5.6 percentage points from the previous year.

SinoPac Securities Investment Service (SinoPac Inv. Service) has released a report on the Taiwanese stock market, highlighting its impressive growth streak. Taiwan stocks have surged over 44% since 2020 through the end of November, outpacing South Korea’s market and even surpassing the US S&P 500’s gain. The report suggests that Taiwan stocks are poised to set a new high for the year, as the index has successfully breached the critical threshold of 16,800 points. SinoPac Inv. Service also points out that political performance and a thriving stock market are often seen as indicators of the incumbent’s record, with the stock market tending to show an upward trend before the presidential elections. Given the current momentum and what is described as a ＂multi-bottom pattern,＂ investment strategists at SinoPac are suggesting a ＂bullish-bias＂ investment approach. As investors closely monitor economic indicators before making their predictions on the election’s impact, Taiwan’s stock market enters the end-of-year season with robust investor optimism.

Taiwan’s 2023 GDP growth forecast has been lowered to 1.42%, the lowest in 14 years, due to weaker exports and private investment. Year-end bonuses for Taiwanese workers have also been affected, with the average amount shrinking to 1.08 months’ worth of salary, hitting a 10-year low. The financial industry leads in bonus payouts with an average of 1.83 months’ salary, followed by the semiconductor industry at 1.38 months. The healthcare services industry averages just 0.97 months of salary, while the accommodations and food services sector lags further behind at only 0.59 months. Despite the downward revision, the DGBAS remains optimistic for 2024, forecasting a GDP growth rate rebound to 3.35%. However, challenges such as the Ukraine-Russia war, the Israel-Palestine conflict, and ongoing inflation may pose risks to the global economy. Looking ahead to 2024, local job banks predict pay increases in 47.5% of companies, with an average salary hike of 3.2%, slightly lower than in 2023. Experts caution that Taiwan’s economic recovery may not be as swift as hoped.

Explore how the shifting dynamics between China and the U.S. are influencing multinational supply chains, leading Taiwanese professionals to seek opportunities in Southeast Asia, particularly in Thailand. Discover Thailand’s strategic advantages in labor and electric vehicle initiatives and Taiwan’s collaborative efforts.

Taiwanese billionaire and independent presidential candidate Terry Gou addressed the talent drain in Taiwan and its impact on the tourism industry. He highlighted how the lack of qualified personnel has affected the competitiveness of the industry, leading to a decline in domestic travel. Gou also linked this talent drain to the fertility crisis in Taiwan and the issue of female employment. He suggested that remote working could help parents balance work and family life, and called on the government to invest in software and hardware developments to support remote job positions. Gou criticized the ruling party, the Democratic Progressive Party, for its failure to propose effective strategies for economic growth and emphasized the need for industrial upgrades to sustain Taiwan’s competitiveness in export-driven industries.

Taiwan’s ice cream industry has reached a record-high production value of NT＄2.8 billion in 2022, with an average year-on-year growth of 8.3% over the past five years, according to the Ministry of Economic Affairs (MOEA). This growth is attributed to Westernized eating habits, health-conscious consumption, and the introduction of new flavors that cater to Taiwan’s hot climate. The rise of the ice cream sector has also contributed to the steady growth of Taiwanese dairy consumption, which reached a peak production value of over NT＄40 billion in both 2021 and 2022. Despite this growth, Taiwan primarily relies on dairy imports, with an annual increase of 11.1%. New Zealand is the main import source, followed by the U.S., France, and Australia, accounting for 12.6%, 8.7%, and 7% respectively. These imports mainly consist of cheese, dry cheese, and dairy-based spreads.

Taiwan’s Minister of Economic Affairs, Wang Mei-hua, expressed concerns about maintaining a 2% GDP growth rate this year despite signs of economic recovery. She cited external factors such as inflation, the Russia-Ukrainian war, and the Israeli-Palestinian conflict as global market influences. However, Wang emphasized that Taiwan’s innovation and efficiency are key advantages that can withstand external economic pressures. The National Development Council also reported a slight improvement in economic measures, indicating subtle growth amidst global adversity. Despite challenges, Taiwanese authorities and stakeholders remain cautiously optimistic and ready to leverage the nation’s inherent strengths.

ranking it 5th worldwide in per capita net financial assets. With an average net worth of NT＄4.8 million per Taiwanese citizen, this historic high demonstrates significant economic growth. Explore how the pandemic elevated Taiwan’s wealth and savings rates compared to other nations.

Taiwan’s Minister of Economic Affairs emphasizes the importance of key tech industries to the country’s economy and the need to protect them from corporate espionage. The high-tech sector in Taiwan has attracted attention from mainland China, resulting in the headhunting of Taiwanese tech talent. In response, Taiwan amended its National Security Act to impose stricter penalties for theft of business secrets. Additionally, Taiwan’s industrial production index has declined for 16 months, but there are signs of increased demand in the AI industry chain. Despite uncertainties in consumer behavior and global economic recovery, industry feedback suggests potential growth in future quarters.

DPP presidential candidate Lai Ching-te has called on Mainland China to appreciate the contributions of Taiwanese business people to its economy. This appeal comes as Foxconn Group, a major Taiwanese tech firm, faces investigations by China’s tax and natural resources departments. Lai emphasized that Taiwanese business people are an important asset to China, fostering economic growth and creating opportunities. He urged China not to pressure Taiwanese business people during the upcoming election, warning that it would harm both sides and undermine confidence in the Chinese market. Lai also called on China to respect Taiwan’s democratic constitution and lifestyle and to accept that the civil war between the Kuomintang and the Communists is over. He encouraged China to engage in equitable and dignified dialogue exchange.

Despite facing economic challenges like inflation and stagnant wages, Taiwanese households are ramping up spending in two unexpected categories: fitness and pet care. With an annual growth rate of over 15% in fitness spending and a 36.2% increase in pet-related expenses over the past decade, these sectors show strong resilience and growth.

Vice presidential candidate Lai Pei-hsia joins forces with Foxconn founder Terry Gou for the 2024 Presidential Election, aiming to attract overseas Taiwanese businesspeople and boost the nation’s economy. Get the latest on this partnership.