Taiwan’s economy expanded at a faster-than-estimated pace in the fourth quarter last year, as a recovery in Europe and the U.S. boosted the island’s exports.
Gross domestic product rose 2.92 percent from a year earlier after increasing 1.66 percent in the third quarter, the statistics bureau said in a preliminary report in Taipei today. The median estimate of 18 economists in a Bloomberg News survey was 1.83 percent.
The World Bank this month raised its global growth forecasts as the easing of austerity policies in advanced economies supports their recovery. Taiwan’s exports, which account for about 70 percent of the economy, climbed 1.4 percent in 2013, data showed last week, after shrinking 2.3 percent the previous year.
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