Radio Taiwan International
Taiwan’s economy showed higher-than-expected growth in the fourth quarter (Q4) of 2016. That’s according to the latest numbers from the government statistics office.
The office’s analysis shows that Taiwan’s GDP registered a growth of 2.58% in Q4 2016 over the same period in the previous year. That’s slightly higher than the office’s initial prediction for the period. The growth came thanks to the steady growth from nation’s main trade partners, which helped boost exports of Taiwanese goods by 11.73%.
However, the tourist sector saw a drop of 4% in the period. The growing numbers of tourists visiting Taiwan from other nations was not enough to offset a 40% drop in incoming Mainland Chinese tourists recorded during the fourth quarter.
In terms of domestic demand, the automotive industry showed strong sales in Q4, as did the restaurant industry. However, a warm winter has caused dwindling revenue for sellers of winter clothing and heating appliances. [FULL STORY]