Focus Taiwan
Date: 2019/08/16
By: Pan Tzu-yu and Frances Huang

Taipei, Aug. 16 (CNA) Taiwan has raised its forecast for gross domestic product (GDP) growth for 2019, reflecting increased investment in Taiwan by local suppliers looking to steer clear of the trade dispute between the United States and China.

The Directorate General of Budget, Accounting and Statistics (DGBAS) said in a statement Friday that it has revised its estimate for GDP growth in 2019 to 2.46 percent, up 0.27 percentage points from its previous forecast in May.

A big factor in the revision was increased investment at home by Taiwan-based companies operating in China that wanted to increase their production capacity in Taiwan to avoid punitive tariffs imposed by the United States on goods made in China, the DGBAS said.

The trade dispute has also prompted a shakeup in the global electronics supply chain, leading to more production capacity in Taiwan, the DGBAS said.    [FULL  STORY]