Holy smokes in late December they were projecting 2.71%
A month ago they were projecting 2.54%.
Projections are now 4% for 2021 and 5% for 2022.
P.S. I don’t care what they are relative to China.
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Not surprised at all. Reshoring assets, R&D hubs, offshore wind investments, electronics cycle picking up steam, stellar covid containment and last but not least TSMC becoming the king of tech, I would have been surprised if we did any worse.
I’ve been saying it for 3 years the numbers show Taiwan getting back into shape and the only thing keeping it down is the people that still dabble in the old paradigm of stagnating Taiwan and buy Chinese propaganda. I expect 4%-ish growth on average this decade.
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A significant risk (aside from our belligerent neighbour across the Strait): global slowdown in consumption following the COVID shocks. For an export focused economy like Taiwan, this could certainly limit growth.
Still amazing work in 2020 given all the challenges…
Guy
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Now what about inflation?
Not out yet.
I should add the caveat that this is a preliminary number.
Are there any trustworthy figures as to the real GDP of China anyway?
It’s overestimated by 12%.
According to the hottest economist ever:
DGBAS predicts 4.64% growth for 2021. This is crazy. Investors will obviously cash in.
There was actually deflation in 2020.
I only clicked on the video because you said “hottest economist ever.” I’m so predictable.
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Updated estimated out, even better than previously thought. 3.11%.
https://eng.dgbas.gov.tw/ct.asp?xItem=46903&ctNode=3339
February 20, 2021 Taiwan’s real gross domestic product (GDP) grew by 5.09% from the same quarter of the previous year in 2020Q4, according to the latest preliminary estimate. For the whole 2020, the economic growth rate was 3.11%. Meanwhile, the real GDP is projected to grow by 4.64% in 2021.
Was I wrong?
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