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Low crude oil prices prop up domestic demand
TIER adjusts its forecast for 2015 slightly upward |
Despite that fact that the US has been somewhat slow on job market recovery, and China has been slow on overall growth, Europe and Japan seem on the track of steeping out of the woods. Low crude oil prices have helped fuel Taiwan’s domestic growth with respect to stabilizing global conditions. The Taiwan Institute of Economic Research (TIER) slightly adjusts its annual forecast for 2015 upward by o.o3 percentage points to be 3.70%.
Taiwan’s exports in March 2015 decreased by 8.88% on a year-on-year basis; the continuous crude price plunge offsets the exports of petroleum related industries. As Taiwan’s imports would often be affected by exports, the imports in February 2015 also declined by 17.75% year-on-year due to almost the same reasons of declining exports.
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| TIER reveals nation's manufacturing boosted by the plummeting cost of oil |
| The Taiwan Institute of Economic Research (台灣經濟研究院) said Wednesday that manufacturing activity in Taiwan improved in March from a month earlier because of higher industrial production and export orders in the month. TIER, one of Taiwan's leading economic think tanks, said the manufacturing composite index for March stood at 11.54 points moving up by 1.28 points from February's 10.26, and it flashed a "yellow-blue" light, improved from February's "blue" light. The think tank uses a five-light system to describe the state of the economy, with red indicating overheating, yellow-red representing fast growth, green showing stable growth, yellow-blue hinting at sluggish growth and blue indicating negative growth. (Source: The China Post) |
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Taiwan Economic Research Monthly
Analysis on 2015 APEC issues |
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Promoting the realisation of Asia-Pacific free trade area
 In response to the “The Beijing Roadmap for APEC’s Contribution to the Realization of the FTAAP “, which was announced by the 2014 APEC Leaders, urging that APEC economies to promote FTAAP's progress. Meanwhile, the Friends of the Chair Group on Strengthening Regional Economic Integration and Advancing, under the Committee on Trade and Investment, would form a task force in 2015, aiming to engage in a common strategic study of FTAAP, in accordance with the wishes of APEC efforts to promote FTAAP. A through analysis on potential impacts would be necessary with respect to the launch of FTAAP study.
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