ANZ lifts Taiwan GDP growth forecast to 5.5% for 2021
TAIPEI-- Taiwan's resilient export performance has prompted ANZ Bank to revise upwards its GDP growth forecast to 5.5% y/y for 2021 and to 3.5% y/y for 2022. "Full-year growth would have been more robust if not for the second wave of COVID-19 virus infections in April/May," ANZ says.
In a research paper, it says: "We expect net export demand will remain the key driver of growth, and for the tech-cycle upturn to extend through 2021 and most of 2022.
"Recent data also show signs of recovery in non-tech exports. We forecast net exports to add 3.5% to Taiwan's headline GDP growth in 2021."