Taiwan's economic growth gathered pace in the third quarter as companies shipped more electronic parts and other goods to China.
Taiwan's economy grew a higher than expected 4.77 percent in the third quarter from a year earlier, driven by stronger exports and industrial output, official data showed yesterday.
The nation's economic growth in the July-September period had prompted the Directorate General of Budget, Accounting and Statistics (DGBAS) to raise its 2002 gross domestic product (GDP) growth forecast to 3.27 percent from August's estimate of 3.14 percent. It also predicted the economy would grow 3.38 percent next year.
In the third quarter, exports advanced 16.4 percent from a year earlier, beating a 15.0 percent forecast, while manufacturing output grew 8.7 percent, compared with an estimate of 7.6 percent growth, DGBAS said.
This recovery from Taiwan's worst-ever recession last year is being driven by rising sales to China.
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