Taiwan's 2005 GDP growth forecast reduced

Taiwan’s 2005 GDP growth forecast reduced

Taiwan Institute of Economic Research (TIER) said it had reduced its 2005 GDP (Gross Domestic Product) growth forecast from 4.67% to 4.41%. The downward revision is attributed to the expectations of a slowdown in foreign trade along with slower growth for international economies. However, TIER indicated that a growth of more than 4% should be regarded as normal and stable. Taiwan's trade surplus is expected to amount NTD 13.1 billion (around $418 million) in 2005. Export growth will be 9.09% and import growth will be 5.29% in 2005.