TAIPEI – Taiwan's economy will grow 3.59 percent in 2013, up from an earlier forecast of 3.53 percent, the Directorate General of Budget, Accounting and Statistics (DGBAS) projected Friday. The country's economy is clearly on the path to recovery, said Shih Su-mei, head of the DGBAS. The improved figure is due to a predicted upturn in exports and consumer spending, Shih said. Taiwan has been rolling out new information and communications devices such as smartphones and tablet computers amid a global recovery, which will help boost exports, Shih said. Taiwan's exports this year are estimated to reach US$319.9 billion, a 6.23 percent increase from 2012, she said. The DGBAS also released a series of other forecasts for the economy this year, including a 1.86 percent growth in consumer spending, a 1.37 percent increase in the consumer price index and a 7.37 percent increase in private investment. — Agencies
