01 Feb '11, 2am

Money - Taiwan economic growth at 23-year high in 2010: TAIPEI - TAIWAN'S economy grew by 10.47 per cent in...

TAIPEI - TAIWAN'S economy grew by 10.47 per cent in 2010, a 23-year high, but it will slow to half that figure in 2011, the government said in a preliminary estimate. The growth rate last year was the highest since 1987, the Directorate General of Budget, Accounting and Statistics said in a statement posted on its website late Monday. For 2011, the directorate general predicted growth of 5.03 per cent, stating that uncertain factors in the year ahead included slow progress in improving the employment situation in developed countries. Taiwan's economy expanded by 6.48 per cent in the fourth quarter of 2010, the directorate general said. Although Taiwan is highly dependent on overseas markets, domestic demand accounted for a bigger share of growth than exports in the fourth quarter, it said, citing a rebound in consumer confidence. In 2009, under the influence of the global ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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