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Taiwan raises 2017 GDP growth forecast to 2.11 pct
August 18, 2017 / 8:38 AM / a month ago

Taiwan raises 2017 GDP growth forecast to 2.11 pct

TAIPEI, Aug 18 (Reuters) - Taiwan raised its 2017 economic growth forecast to 2.11 percent from 2.05 percent, as exports have picked up steam this year on demand for components for the coming iPhone 8 and other tech gadgets.

If the new full-year growth forecast proves right, 2017 will be the best year for export-reliant Taiwan since 2014, when the economy grew 4.01 percent.

In February, Taiwan projected 1.92 percent growth for 2017, and that forecast was lifted to 2.05 percent in May.

The latest revision was announced by the Directorate General of Budget, Accounting and Statistics.

The agency also revised second-quarter growth to 2.13 percent from a year earlier, from the preliminary 2.10 percent released last month. In January-March, annual growth was 2.6 percent. (Reporting by Jeanny Kao; Writing by Faith Hung; Editing by Richard Borsuk)

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