Taiwan’s economic growth to accelerate

Taiwan’s economy will grow 3.59 percent in 2013 due to a predicted upturn in exports and consumer spending. The growth is higher than the Directorate General of Budget, Accounting and Statistics (DGBAS) had projected. Taiwan’s exports this year are estimated to reach US$319.9 billion, a 6.23 percent increase from 2012, the DGBAS said. The DGBAS also released a series of other forecasts for the economy this year, including a 1.86 percent growth in consumer spending, a 1.37 percent increase in the consumer price index and a 7.37 percent increase in private investment. According to latest DGBAS forecast, the nation’s economy will grow 3.26 percent in the first quarter of this year, 3.92 percent in the second, 3.82 in the third and 3.34 percent in the fourth.