Taiwan’s economic growth in 2022 projected at 3.52%, top academic institution says
Economics researchers at Academia Sinica have lowered Taiwan’s economic growth rate (in GDP) forecast for 2022 from the 3.85% initially forecast in December 2021 to 3.52%.
They also adjusted the 2022 CPI (consumer price index) forecast from 2.04% originally to 3.16%, according to Academia Sinica.
In view of persistent inflation and problems with global supply chains, the IMF in April 2022 adjusted downwards the 2022 economic growth rates for major countries, for example, to 3.7% for the States States and below 5.5% for China. For 2022 inflation, the IMF predicts 5.7% while the OECD 8.8%.
Taiwan saw non-governmental investment in the first quarter of 2022 increase by 6.64% year-on-year, mainly due to large investments by semiconductor manufacturers, and growth for the full year is expected at 4, 39%. Meanwhile, physical fixed capital formation in Taiwan in 2022 is expected to increase by 4.45% year on year, mainly due to investments in green energy infrastructure stimulated by governments and state-owned enterprises.
Due to the export boom, Taiwan’s export value of physical products and services in the first quarter of 2022 increased by 8.95% year on year, and the corresponding import value increased by 8.35%. The export value and import value for 2022 are expected to increase by 5.64% and 4.75% year on year, respectively.