TAIPEI (Taiwan News) — Taiwan’s average economic growth for the past eight years was the highest for the Four Little Dragons, Vice Premier Cheng Wen-tsan (鄭文燦) said Wednesday (Nov. 1).Since 2016, Taiwan’s gross domestic product (GDP) has expanded by an average of 3.4% per year, more than Singapore, Hong Kong, and South Korea, he told a business event. He said the GDP amounted to NT$17.5 trillion (US$538.69 billion) in 2016 but reached NT$23 trillion in 2022.Cheng said that even during the COVID-19 pandemic, the restructuring of supply chains helped Taiwan’s economy grow by 12.7%, Radio Taiwan International (RTI) reported. During the past eight years, the country’s trade also expanded, with exports only contracting earlier this year.The vice premier shared the optimism that the period of falling exports had ended, with the fourth quarter showing signs of a revival. The services sector and suppliers for the domestic market have helped sustain the economy in 2023, he said.By Matthew Strong, Taiwan News, Staff Writer2023/11/01 19:37 (ICE TAIPEI)

Fonte notizia: Organi di Stampa - Taiwan News