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Taiwan 2021 forecast economic growth rate hits 11-year high, says DGBAS

Adam Hwang, DIGITIMES, Taipei 0

Taiwan's forecast economic growth rate for 2021 is upward adjusted from 5.46% forecast in June 2021 to 5.88%, the highest annual level since 2011, according to the Directorate General of Budget, Accounting, and Statistics (DGBAS).

According to IHS Markit, 2021 economic growth rate is forecast at 8.5% for China, 2.4% for Japan, 5.8% for Singapore, 3.8% for South Korea, 6.8% for Hong Kong, 6.6% for the US, 3.8% for Germany, 5.7% for France, 6.6% for the UK, DGBAS said.

DGBAS: Taiwan economic situation

Economic growth

On-year increase in the consumer price index

GDP per capita

GNI per capita

2Q21 (estimated)

7.43%

2.14%

US$7,872

US$8,010

3Q21 (forecast)

3.31%

2.09%

US$8,302

US$8,385

4Q21 (forecast)

4.01%

1.94%

US$8,717

US$8,850

2021 (forecast)

5.88%

1.74%

US$32,747

US$33,310

2022 (forecast)

3.69%

0.89%

US$34,523

US$35,073

Source: DGBAS, compiled by Digitimes, August 2021