Think tank forecasts 2012 growth of more than 1.5%
October 15, 2012, 4:25 pm TWN
TAIPEI -- Taiwan's gross domestic product (GDP) growth rate for 2012 is expected to be more than 1.5 percent, but is unlikely to surpass 2 percent, the Taipei-based Chung-hua Institution for Economic Research said Sunday.
The Taipei-based think tank is expected to revise the 2.36 percent GDP growth rate it had forecast for 2012 in July, during a press conference on Tuesday. It will also release its latest forecast for 2012's GDP growth, as well as its first projection for 2013, at the event.
Despite the expected negative revision, exports swung into positive territory in September, ending a period of six-straight months of decline, owing to strong exports to countries in the Association of Southeast Asian Nations (ASEAN) and Japan, said Liu Meng-chun, director of the institute's Center for Economic Forecasting.
The growing export volume could also be attributed to the expansion of Taiwanese businesses into the Southeast Asian market, and because of its alliance with Japan for exploring the ASEAN region, he added.