2019 GDP Growth Rate May Sink Below 2%

 2019 GDP Growth Rate May Sink Below 2%

Source: UDN

June 24, 2019

The Central Bank stated that as the US had announced a new list of additional tariffs on Chinese imports, including terminal electronic products, such as mobile phones and laptops, it was estimated that US$8.55 billion worth of Taiwan’s exports to the US would be impacted as a result of the trade tariffs, accounting for 1.45% of GDP.

That is, if US President Donald Trump and PRC President Xi Jin-ping fail to reach a consensus at this week’s G20 summit over their trade war, and the former would impose new additional tariffs of 25% on Chinese imports worth over US$300 billion, and Taiwan’s 2019 GDP growth rate may sink below 2%.

In a separate news story, “1111 Job Bank” released yesterday the results of its latest survey on enterprises’ willingness to recruit new staff in Q3. The survey results showed that 51% of the enterprises surveyed were willing to recruit new staff in Q3, a five-percentage-point drop from last year. In addition, the average number of job offers per enterprise in Q3 this year declined by one fourth from a year earlier, from 12 to 9.

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