Taiwan's GDP Up 6.4%

Favorable fourth quarter results due to manufacturing and export sectors

Taiwan's gross domestic product rose 6.4% year-on-year in the fourth quarter to December 2007 due to a better-than-expected performance in the export and manufacturing sectors, the government said Feb. 21.

The Directorate General of Budget, Accounting and Statistics had estimated that GDP would grow 5.4% in the quarter, compared with a 6.9% increase in the previous quarter.

In 2006, GDP, which is the total market value of all final goods and services generated by the economy, grew 5.7% after a 4.9% rise in 2006. However, the cabinet-level agency cut its 2008 GDP growth forecast to 4.3% from a forecast of 4.5% made in November amid the fallout of the U.S. subprime woes on the global economy.

Copyright Agence France-Presse, 2008

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