Left Menu
Development News Edition

Taiwan sees 2020 GDP growth at 1.67%, slowest in five years

Reuters | Taipei | Updated: 28-05-2020 14:06 IST | Created: 28-05-2020 13:43 IST
Taiwan sees 2020 GDP growth at 1.67%, slowest in five years
Representative image Image Credit: Pixabay

Taiwan is expected to post its slowest economic growth in five years in 2020, the statistics agency said on Thursday, as the coronavirus crisis hurts trade, consumer spending, and the job market. The export-reliant economy is likely to grow 1.67% this year, the Directorate General of Budget, Accounting and Statistics said in a statement.

In February it forecast full-year growth at 2.37%, but in April, the agency's chief told parliament it was more likely to be 1.3%-1.8%. Taiwan's first-quarter annual GDP growth was also revised slightly higher to 1.59% from a preliminary 1.54%, the agency said.

It also nudged down its inflation estimate for 2020 to -0.32% from 0.62% previously.


TRENDING

OPINION / BLOG / INTERVIEW

Why COVID-19 is unstoppable in USA despite it being ranked at the top of GHS Index?

Several worst-hit countries such as Italy, France, Spain, the UK, Canada, and Russia have peaked COVID-19 cases in April. Almost all of them have gradually flattened the curve. However, the USA is setting new daily records of infections tha...

COVID-19 seems cooking biggest ever global scam

The increasing number of corruption cases on COVID-19 funds from throughout the world and involvement of high profile persons indicate that the countries cant ignore corruption in their pandemic response programs. This has generated the nee...

Health Management Information Systems lack holistic, integrated, and pandemic resilient character

Being a part of the United Nations system, the World Health Organization WHO deserves its share of rebuke for its alleged failure issue COVID-19 health emergency alerts on appropriate time. However, the pandemic has also exposed loopholes i...

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

Videos

Latest News

'How lung, immune system in kids protect from severe COVID-19 decoded'

Differences in lung physiology and immune function in children may explain why they are more often spared from severe illness associated with COVID-19 than adults, according to a research which sheds more light on the biological process beh...

Tata Steel BSL crude steel production drops over 41 pc in June quarter

Tata Steel BSL on Thursday said its crude steel production fell over 41 per cent to 6,59,000 tonnes during June quarter 2020 as compared with 11,22,000 tonnes in corresponding period a year ago, hit by COVID-19 pandemic. The companys sales ...

Thai Cabinet approves bills allowing same-sex partnerships

Thailands Cabinet has approved two draft bills that would give same-sex unions legal status similar to that of heterosexual marriages. The draft Civil Partnership Act and amendments of the Civil and Commercial Code will be sent to Parliamen...

Tesla 'very close' to level 5 autonomous driving technology, Musk says

U.S. electric vehicle maker Tesla Inc is very close to achieving level 5 autonomous driving technology, Chief Executive Elon Musk said on Thursday, referring to the capability to navigate roads without any driver input. Im extremely confide...

Give Feedback