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Taiwan's economy to grow by 3.6% this year: UN commission

BANGKOK -- Taiwan's economy is expected to grow by 3.6 percent this year, up from last year's 1.3 percent, according to a survey released by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) yesterday.

Aynul Hasan, chief of the UNESCAP's Development Policy Section, said that because of a low base of comparison from last year and export growth expected for this year, Taiwan's predicted 3.6 percent growth is not impressive but its shows that Taiwan has retained a momentum of growth.

Earlier this week, the International Monetary Fund (IMF) lowered its projection of Taiwan's GDP growth rate for 2013 from 3.9 percent to 3.0 percent.

The IMF in the meantime forecasted that Taiwan's economy will register a 3.9 percent growth for next year.

In what it called its “flagship survey,” UNESCAP said Asia Pacific economies will see subdued growth in 2013 after last year's sharp slowdown caused by external factors.

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