Economic think-tank Chung-Hua Institution for Economic Research (中華經濟研究院; CIER) said that it expects Taiwan’s GDP to grow 2.11% in 2017. Meanwhile the Ministry of Economic Affairs (MOEA) yesterday predicted GDP to grow over 2% despite an IMF forecast of 1.7%.
CIER said that GDP rose 2.76% in the first quarter and will continue at a slower pace for the rest of the year. It predicts second-quarter GDP to increase 2.17% with third and fourth quarters to rise 1.83% and 1.75%, respectively.
The prediction is based on slightly improved domestic demand as well as a turnaround in net domestic output. Overall, growth in exports will slightly outpace the growth in imports in the year.
CIER also forecast 2.15% growth in GDP in Taiwan in 2018, while the IMF expects it to grow 1.9%.
In addition, the economic think-tank expects the US Dollar to regain momentum versus the New Taiwan Dollar in the course of the year.