Taiwan's economy sees 10.5% growth
Source: Agencies |
February 1, 2011, Tuesday
|
Print Edition
Print Edition
TAIWAN'S economy surged 10.5 percent in 2010, surpassing expectations even as growth slowed in the final quarter of the year.
Previous official forecasts were for a 10 percent growth in 2010.
Authorities said yesterday the economy grew 6.5 percent in the fourth quarter from a year ago. It rose 9.8 percent in the third quarter.
The expansion in the October-December quarter was the fourth consecutive quarter of growth since Taiwan emerged from the global recession.
Taiwan is a major source of components for Chinese mainland factories that assemble and export finished products to the United States and elsewhere. Although the global economic recovery has slowed, demand was firm for Taiwan-made computers and other electronic gadgets, authorities said.
They project Taiwan's economy to grow 5 percent in 2011, up from the 4.5 percent forecast in November.
Previous official forecasts were for a 10 percent growth in 2010.
Authorities said yesterday the economy grew 6.5 percent in the fourth quarter from a year ago. It rose 9.8 percent in the third quarter.
The expansion in the October-December quarter was the fourth consecutive quarter of growth since Taiwan emerged from the global recession.
Taiwan is a major source of components for Chinese mainland factories that assemble and export finished products to the United States and elsewhere. Although the global economic recovery has slowed, demand was firm for Taiwan-made computers and other electronic gadgets, authorities said.
They project Taiwan's economy to grow 5 percent in 2011, up from the 4.5 percent forecast in November.
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