Taiwan might not achieve export growth goal for 2013

The China Post news staff

TAIPEI, Taiwan — Economic officials yesterday admitted that it will be difficult for Taiwan to achieve its goal of 5.5 percent export growth in 2013. The officials were cited by the Central News Agency as saying that it will be “quite a challenge” to reach the export growth goal set last year by the government. A 3-percent growth looks more realistic, the officials said. Exports say that during the first eight months of this year exports grew only 2.5 percent, far slower than the previously expected pace amid sluggish global trade. Latest World Trade Organization (WTO) predictions have shown that global trade growth in 2013 will be slower than previously expected. In April it was predicted to rise 3.3 percent, but now the anticipated growth has been reduced to only 2.5 percent.

Global trade growth for 2014 is now predicted to be 4.5 percent, compared to the last prediction at 5 percent.

Scholars have noted that trade barriers have rose in recent years, which has affected Taiwan’s exports.

But the economic officials said that so far the Taiwanese government has no plans to lower their export goal for the year. They added that some major factors affecting global trade remain unclear, such as the U.S. government’s quantitative easing measures and China’s export performance. They noted that there have also been encouraging signs: the European economy has been stabilizing and the U.S. economy is also improving.