Economic growth to slow to 2.72% next year: CIERBy Crystal Hsu / Staff reporterThe nation’s GDP growth could slow to 2.72 percent next year, from an estimated 3.04 percent pickup this year, as global economic headwinds could hurt demand for Taiwanese exports, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. In addition, the Ukraine war and China’s tight COVID-19 controls would continue to slacken global trade, Chang said. Exports this quarter are forecast to contract 6.26 percent and remain in the woods in first half of next year, CIER said. Imported inflation has received support from a weak New Taiwan dollar linked to capital outflows this year, government data showed. The NT dollar is likely to trade at an average of NT$31.09 versus the greenback next year, from NT$29.82 this year, CIER said.

Source: Taipei Times December 09, 2022 16:54 UTC