Taiwan revises down 2022 GDP growth forecast to 3.06%

Taiwan's economy is expected to expand 3.06% in 2022, the Directorate General of Budget, Accounting and Statistics said on Tuesday, downgrading its outlook from a previous estimate of 3.76% growth.

Gross domestic product (GDP) rose by a revised 4.01% in the third quarter of 2022 from a year earlier, slightly down from a preliminary reading of 4.1%, the agency said.

For 2023, it said it saw GDP growing 2.75%, down from a previous forecast of 3.05%.