Taiwan upgrades 2021 growth forecast to 5.46pc

Taiwan’s economy is expected to grow by 5.46 percent in 2021, the statistics agency said on Friday, upgrading a previous forecast of 4.64 percent predicted in February on the back of a strong rebound in exports, Reuters reports.

Growth in the first quarter was revised higher to 8.92 percent year-on-year from a preliminary 8.16 percent, the Directorate General of Budget, Accounting and Statistics said.

The statistics office also revised up the export growth forecast for 2021 to 20.40 percent from a previous 9.58 percent.

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