Indicators
Taiwan Cuts 2022 GDP Forecast Again as Global Economy Slows
- GDP likely to grow 3.06% this year, lower than August estimate
- Export growth for 2022 projected at 8.7%, officials say
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Taiwan cut its 2022 growth forecast for the third time this year as the global demand slowdown and rising geopolitical tensions with China prove tough to navigate.
Gross domestic product is likely to grow 3.06% for the year, the Cabinet’s statistics department said in a statement Tuesday. That’s lower than the last formal estimate of 3.76% given in August. The official 2023 GDP forecast was downgraded to 2.75% from 3.05%.