Taiwan’s GDP 結果共18筆

Explore the latest economic forecasts for Taiwan as the Taiwan Institute of Economic Research projects a GDP growth of 3.29% and a CPI increase to 2.13%. Amidst stable domestic demand and expanding exports, concerns over rising costs and geopolitical tensions loom. With cautious business investments and the global economic climate’s uncertainties, Taiwan navigates through challenges towards growth.

China announces a 7.2% increase in its defense budget for the year, reaching 1.67 trillion yuan (US$231 billion), signaling significant military expansion. Comparatively, this figure dwarfs Taiwan’s budget, amidst global rises in military spending.

President Tsai Ing-wen highlights Taiwan’s growing global relevance and indispensability, as she reflects on the substantial changes during her seven-year presidency. Taiwan’s GDP has risen from NT＄17.5 trillion to an impressive NT＄23 trillion under her administration, thanks to initiatives aimed at investment and infrastructure development. Advanced semiconductor chip production has thrived, contributing to Taiwan’s economic stability and rapid advancement, surpassing the progress of the Four Asian Tigers. Tsai attributes this success to the unity and resilience of the Taiwanese people. She hopes that her administration’s efforts will have a lasting impact, sustaining Taiwan’s forward momentum for future leaders.

Taipei mayoral candidate Ko Wen-je criticizes the lack of long-term vision and planning in economic policy by the Democratic Progressive Party (DPP) and Kuomintang (KMT). Despite a 120% increase in Taiwan’s GDP since 2000, real wages have only increased by 4% and the country ranks sixth in total working hours globally. Ko believes that low wages and poor living conditions are not the fault of Taiwanese people but rather the result of the government’s lack of global strategic planning. He questions what keyword might define 2024 if the DPP and KMT continue to be in power, and asserts that a change in leadership is needed. Ko suggests that he should be elected president in 2024 to address these ongoing issues, emphasizing the absence of comprehensive strategic planning as the underlying reason behind the problems.

Taiwan’s GDP per capita has surpassed South Korea’s for the first time since 2003, reaching US＄32,625 in 2022 compared to South Korea’s US＄32,410, according to the Directorate General of Budget, Accounting and Statistics (DGBAS). This economic victory can be attributed to Taiwan’s higher growth rate in recent years and the greater depreciation of South Korea’s won. Taiwan had been trailing behind South Korea in terms of GDP per capita since 2003, but the gap between the two has been consistently shrinking. Additionally, in financial market news, Taiwan’s stock index has also advanced beyond Hong Kong’s for the first time in nearly 31 years, with the Taiwan Stock Exchange index closing at 17,370 points, outpacing the Hang Seng Index, which was weighed down by China’s low-earning equities and closed at 16,993.

President Tsai Ing-wen expresses gratitude to lawmakers for passing the central government’s record-high budget for 2024, highlighting achievements in salary increases, tax cuts, and welfare improvements. The budget prioritizes social welfare, with a significant increase in long-term care funding. Education, science, and culture spending also receive attention, including a plan to reduce private university tuition fees. The national defense budget reaches a historic high, and efforts towards achieving ’net-zero emissions by 2050’ are emphasized. The administration has successfully reduced debt and improved fiscal discipline, with the debt repayment next year reaching a 23-year high. Taiwan’s overall economic scale has grown under President Tsai’s leadership, with GDP expected to exceed NT＄23 trillion this year.

Taiwan’s central bank has announced that it will maintain its interest rate for the third consecutive time in its quarterly board meeting. The decision was influenced by price changes and the need to balance stabilizing consumer prices with sustaining economic growth. Despite rising consumer prices due to natural disasters, the central bank remains optimistic and expects the inflation rate to drop below 2% next year. Forecasts for Taiwan’s GDP growth rate in 2023 are more positive, projected to reach 3.12%. This is supported by increasing private consumption, particularly in tourism and dining, as well as the central bank’s expectation of a global export increase to stimulate local investment and drive economic recovery. In contrast to the Federal Reserve in the U.S., Taiwan’s central bank stated that its monetary policy approach would be adjusted gradually based on the country’s economic conditions. Despite high housing prices, the central bank has decided against imposing stricter measures or withdrawing from market intervention to avoid further impact on the property market.

The campaign office of Lai Ching-te, Democratic Progressive Party’s (DPP) presidential candidate, has released a new video titled ＂Taiwan in the world,＂ highlighting Taiwan’s reduced dependence on China and its increasing global recognition. Pan Men-an, head of the DPP’s campaign headquarters, expressed concern over opposition parties’ attempts to marginalize Taiwan and emphasized the significance of the 2024 election in determining Taiwan’s alignment with either the world or China. The video emphasizes Taiwan’s democratic development through international engagement and value-based diplomacy, while also strengthening ties with other nations. Lai’s campaign office spokesperson, Tai Wei-shan, pointed out that Taiwan’s trade dependence on China decreased from 40 percent during former President Ma Ying-jeou’s presidency to 34 percent. Additionally, a report by The Economist in August stated that under President Tsai Ing-wen’s seven-year rule, Taiwan has become the 21st largest economy globally, surpassing South Korea in terms of gross domestic product (GDP) per capita. Lai’s campaign office underscores the importance of the 2024 election in shaping Taiwan’s future trajectory and urges the public to make the right choice.

Lai Ching-te’s national campaign headquarters, led by campaign manager Pan Men-an and spokesperson Tai Wei-shan, unveiled their latest campaign commercial during a press conference titled ＂The World’s Taiwan.＂ Tai highlighted Taiwan’s increased visibility on the international stage, emphasizing the international community’s growing confidence in Taiwan and their willingness to collaborate. The campaign event follows Taiwan’s recognition as the top democracy in Asia by The Economist and its 6th place ranking in competitiveness worldwide according to the IMD Business School’s 2023 World Competitiveness Yearbook. Taiwan’s economic standing as the 21st largest economy globally and the 18th largest trading nation, with a higher GDP per capita than South Korea, was also praised. The campaign video emphasizes the importance of selecting the right leader to continue Taiwan’s advancement towards a more significant global presence.

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.

Former U.S. President Donald Trump has stated that he would revoke current President Joe Biden’s Indo-Pacific Economic Framework (IPEF) if he wins the 2024 presidential election. Trump argues that the IPEF could negatively impact the American manufacturing industry and lead to increased unemployment rates. The U.S. previously withdrew from the Trans-Pacific Partnership (TPP) due to similar concerns. Negotiations for Biden’s IPEF began in September 2022, with a focus on major southern powers like India and Indonesia, aiming to promote economic cooperation and exclude China. The IPEF includes countries such as Australia, Singapore, Japan, and 10 other Indo-Pacific nations, constituting about 40% of the global GDP. It emphasizes fair and resilient trade, supply chain resilience, and clean energy. Taiwan’s chief trade negotiator expressed the country’s interest in monitoring the IPEF’s development and presenting a proposal for Taiwan’s inclusion at the appropriate time. President Tsai Ing-wen has also expressed Taiwan’s desire to join the IPEF, believing it would create more business opportunities for Taiwanese and U.S. companies.

President Tsai Ing-wen attributes the DPP’s rule in Taiwan since 2016 to the support of the Taiwanese people. She emphasizes the robust democratic elections and system of checks and balances in Taiwan. Tsai states that the DPP and presidential candidate Lai Ching-te are the right choice for Taiwan. Under the DPP’s administration, Taiwan’s national power has enhanced, with GDP growth from NT＄17.5 trillion in 2016 to a potential NT＄23 trillion in 2023. President Tsai encourages Taiwanese to be proud of their achievements.

Taiwan faces a widening wealth gap, reaching its highest in a decade. With challenges like high inflation and stagnant wages, the top 20% of families earn significantly more than the bottom, highlighting deep economic disparities.

The Directorate-General of Budget, Accounting and Statistics (DGBAS) has revised Taiwan’s third-quarter GDP growth forecast to 2.32%, down from the previous estimate of 2.54%. The revision is attributed to a slowdown in private capital formation, including government and public enterprises’ fixed investments and stock changes. However, the DGBAS official, Wang Tsui-hua, stated that Taiwan’s economy is still improving, with a third-quarter GDP growth rate of 10.47% on a seasonally adjusted annual rate (saar). If fourth-quarter forecasts are maintained, this year’s GDP will be revised downward to 1.55%.

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.

Foxconn Founder Terry Gou promised to lead Taiwan’s economy in succeeding Singapore’s in the next two decades to become Asia’s highest GDP per capita on Monday (Aug. 28).

TAIPEI (TVBS News) — President Tsai Ing-wen said Monday (Aug. 21) that Taiwan’s national defense budget will reach a record high of NT＄606.8 billion at the briefing of 2024’s government budget.

Taiwan’s export industry’s performance this year has yet to see high numbers. However, the Directorate-General of Budget, Accounting and Statistics (DGBAS) estimates that the growth in private consumption will exceed 5%, taking the lead in the country’s economic performance.