2021/01/29 16:49 Taiwan s GDP growth roared to nearly 5 percent at end of 2020. Taiwan s GDP growth roared to nearly 5 percent at end of 2020. (CNA photo)
TAIPEI (Taiwan News) Taiwan’s Gross Domestic Product expanded by 4.94 percent during the final quarter of 2020, far better than the 3.28 percent predicted in November, the government said Friday (Jan. 29). Investments and exports fueled the unexpected boom, helped by the government’s successful handling of the COVID-19 pandemic, according to the Cabinet-level Directorate General of Budget, Accounting and Statistics (DGBAS). Adding the estimate to figures for the previous three quarters, Taiwan’s economy grew by 2.98 percent over the whole year, more than the 2.54 percent previously forecast, CNA reported.