Taiwan lowers 2013 GDP outlook
2013-05-24 15:00:24
Taiwan trimmed its growth outlook for 2013 despite lifting its estimate for the first quarter.
The Department of Statistics, Directorate General of Budget, Accounting and Statistics on Friday said the real gross domestic product grew 1.67 percent in the first quarter from a year earlier, faster than the previous estimate of 1.54 percent.
That follows a 3.97 percent expansion in the fourth quarter, that again was raised from the 3.72 percent estimate. For the whole of 2012, real GDP advanced 1.32 percent, marginally higher than the 1.26 preliminary estimate.
However, the statistical office reduced its outlook for 2013 to 2.4 percent from 3.59 percent.
Looking forward, it said the growth of external trade will be limited due to the softened expansion of the global economy and strong competition from abroad in specific industries.