TAIPEI : Taiwan's trade-reliant economy is expected to have expanded at a slower pace in the first quarter, supported by strong exports though unable to match the barnstorming pace of the last three months of 2021, a Reuters poll showed.
Policymakers have said they expect full-year 2022 growth of around 4 per cent, slower than the 6.45 per cent logged for 2021, which was the fastest rate in over a decade since it expanded 10.25 per cent in 2010. Kevin Wang, an economist at Taishin Securities Investment Advisory Co, said first quarter exports were stronger than expected, but consumer spending was weaker, and with inflation high there is a risk full-year forecasts will have to be downgraded.
"The Fed's actions will weaken Asian currencies and the Taiwan dollar, which will benefit Taiwan's exports, but it will put more pressure on inflation, and the Taiwan central bank will move faster in raising interest rates."
Source: Financial Digest (financialdigest.net)
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