By: Huang Li-yun and Frances Huang
Taipei, April 22 (CNA) The government-sponsored Industrial Technology Research Institute’s Industrial Economics and Knowledge Center (IEK) has raised its forecast for growth in production value in Taiwan’s manufacturing sector for 2017 because of a recovery in the global economy.
The IEK said that the output of Taiwan’s manufacturing sector for 2017 will rise 3.2 percent from a year earlier to NT$17.43 trillion (US$573 billion). That’s an upgrade from its previous estimate of a 2.52 percent rise made in January.
With the world’s economy on the way to a recovery, the IEK said, prices of raw materials such as crude oil prices have stabilized and even rebounded, which has reduced the risks of a fall in export value. [FULL STORY]