Business News
Taiwan's economy grows more than estimated in first quarter
May 19, 2011, 14:02 GMT
Taipei - Taiwan's economy grew 6.55 per cent year-on-year in the first quarter of this year, beating the 6.10 per cent preliminary forecast in April, a government agency said Thursday.
The growth in gross domestic product (GDP) in the January-March period of 2011 was due mainly to strong global demand for Taiwan's electronics and communications products, as well as an increase in domestic investments, the Director General of Budget, Accounting and Statistics said.
The agency predicted 2011 full-year GDP growth at 5.06 per cent, up 0.02 percentage points from April's forecast, with annual per capita income amounting to 20,933 dollars.
It also revised 2010 fourth-quarter GDP growth up to 7.13 per cent year-on-year from April's 6.92 per cent.
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