Taiwan’s economy could grow 4.6% this year – minister

TAIPEI, Jan 18 (Reuters) – Taiwan’s economy could grow up to 4.6% this year, a senior minister said on Tuesday, slightly higher than current official forecasts as the tech powerhouse island benefits from soaring demand for semiconductors and gadgets like smartphones.

Gross domestic product (GDP) in 2022 could expand between 4.25% and 4.6% year-on-year, Kung Ming-hsin, the head of Taiwan’s economic planning agency, the National Development Council, told reporters.

The central bank last month said it saw 2022 growth at 4.03%, while the statistics office in November predicted 4.15%. read more

The government will provide preliminary data for fourth quarter and full-year 2021 growth at the end of next week.

If 2021 GDP grows around 6% as officials expect, it will be the fastest pace since it expanded 10.25% in 2010.

As a key hub in the global technology supply chain for giants such as Apple Inc (AAPL.O), Taiwan’s economy has outperformed many of its regional peers during the COVID-19 pandemic as it benefited from robust demand for its tech exports during the work-and-study-from-home trend.

Reporting by Jeanny Kao; Writing by Ben Blanchard; Editing by Kim Coghill

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