Officials have warned that overseas shipments would struggle, and the official trade outlook is bearish through at least the current quarter. Read more at straitstimes.com.
TAIPEI – Taiwan’s economy likely grew last year at the weakest pace in four years as waning global demand hurt trade, with that slowdown likely to continue to weigh on the island in 2023.
“Headwinds are mounting for the Taiwanese economy, including a deteriorating external backdrop, down-cycle in the semiconductor industry, and a fading reopening impulse that had previously boosted domestic demand,” said Dr Lloyd Chan, economist at Oxford Economics Ltd. Officials have warned that overseas shipments would continue to struggle, and the official trade outlook is bearish through at least this current quarter, as weak demand and rising global inflation continuing to pose threats to Taiwan’s economy.
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