April 2013  
Pessimism subsides with diminishing global uncertainties
TIER upward adjusted its forecast for 2013 growth
Sequestration started on March 1, 2013 did not stop the pace of US economic recovery; albeit it has been in quite a dawdling speed. The European sovereign debt troubles have been temporarily resolved as the 10-year bond yields of concerned economies have been plummeting indicating lower risk for the time being. Japan’s aggressive fiscal stimulus packages, quantitative easing plans, and growth strategies help boost its domestic confidence. China was slow in the first quarter this year but still managed to achieve a 7.7% growth year-on-year. With diminishing global uncertainties, pessimism surrounding Taiwan’s firms throughout the entire year of 2012 subsides. The Taiwan Institute of Economic Research upward adjusted its forecast for 2013 growth from 3.49% to 3.71%.
Taiwan’s external trade in March 2013 outperformed the previous month due to seasonal distortion of the lunar New Year. The total exports in March stood at USD 27.23 billion, a new high since 7 months ago and also a 3.29% growth year-on-year. The imports in March grew by 0.2% year-on-year.
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TIER: Overall domestic manufacturing sentiment flash a blue light again in March
The Taiwan manufacturing sector flashed a blue light in March, indicating a possible recession situation in the sentiment, the Taiwan Institute of Economic Research (TIER) announced. Although the export orders and estimates of output and sales in March posted year-on-year decline, the overall score of the index slightly increased 0.13 points to 10.02 points last month, because of smaller decrease in March than in February. Lower-than-expected export orders and industrial production in March were the main issues to cause an undesirable manufacturing sector signal.

The Executive Yuan approved the “Direction and Program for Development of the Financial Services Industry”, which is designed to promote the technology, internationalization, and featurization of Taiwan’s financial services industry
Taiwan Economic Research Monthly
Challenges of Optimising the Industrial Structure Strategies
Reversing the Industrial Protectionism Through the Traditional Industry Characteristics
Tariff is one of the tools to protect a nation’s industries. The level of tariffs is equivalent to the level of protection set by government authorities. Signing ECFA is a kick off for Taiwan, a small and open economy, to avoid being marginalised and to enable to sign FTAs with other countries.
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