Tue, May 03, 2011 - Page 12 News List

Per capita GNP nearing US$20,000

Staff Writer, with CNA

Taiwan’s per GNP is expected to top US$20,000 this year if its overall economic growth exceeds 5 percent, Minister of Economic Affairs Shih Yen-shiang (施顏祥) said yesterday.

Speaking at the legislature, Shih said Taiwan could have a chance of catching up with South Korea in per capita GNP this year.

He said South Korea’a per capita GNP stood at US$21,695 in 2007, but it slid to US$19,296 in 2008 because of the global -financial meltdown.

It slumped further to US$17,193 in 2009 before rebounding to US$20,759 last year.

TAIWAN

In comparison, Taiwan’s per capita GNP was US$17,596 in 2007, a figure that increased slightly to US$17,833 in 2008, but slumped to US$16,895 the following year, Shih quoted Directorate-General of Budget, Accounting and Statistics (DGBAS) tallies as indicating.

Taiwan’s per capita GNP -rebounded to US$19,188 last year after riding out the global downturn, he added.

He also quoted the DGBAS as forecasting that Taiwan’s GNP per capita would surpass the US$20,000 mark this year, probably reaching US$21,396, as the domestic economy continues to gain momentum.

Other factors, including currency exchange rates, will contribute to determine whether Taiwan is able to catch up with South Korea this year, Shih said.

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