PxPixel
Taiwan's GDP in freefall (but may bounce back) - BikeBiz

Taiwan's GDP in freefall (but may bounce back)

Taiwan's 2001 gross domestic product dipped for the first time ever, down by nearly 2 percent, according to official data released on Friday last week. Even without the failure of GT/Schwinn - Taiwanese companies were stung - the Taiwanese bike trade would still be sharing the country's economic doom and gloom.
Author:
Publish date:

A statement from Taiwan's Directorate General of Budget, Accounting and Statistics (DGBAS) said:

"Taiwan's external trade was severely hurt by the global slump and the September attacks. Domestic demand was also undermined by record unemployment and falling share prices in mid-year.

Exports slumped by 17.1 percent to $122.90 billion.

Taiwan's jobless rate for 2001 grew by 4.6 percent thanks to business closures and downsizing amid slowing demand which is very noticeable in the Taiwanese bike trade.

Almost 5200 Taiwanese factories shut their doors in 2001, some of them bike trade factories, not all of which had migrated to the Chinese mainland.

However, there are signs the slowdown in the Taiwanese economy has hit rock bottom and is on the rise again.

DGBAS said Taiwan's GDP in fourth quarter fell 1.87 percent, a marked improvement from an earlier estimate of a 2.68 percent drop. DGBAS believes 2002 will be better and is predicting 2.29 percent in GDP growth.

Featured Jobs

the cycle hub

Showroom Manager

The Cycle Hub I Dubai, United Arab Emirates I Competitive Package & Bonus I Date Published Tuesday 26th June 2018

Giant St Paul Logo

Bike Fitter / Sales Person

Giant St Pauls I City of London I Salary: Negotiable Dependent on Experience I Date Published Thursday 21st June 2018

CRC_Logo_620x349-1

Bike Technician

Chain Reaction Cycles I Ballyclare I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018

Canyon_Logo_1(1)

Brand Content Writer

Canyon Bicycles GmbH I Koblenz, Germany I Salary: Up to €38,000 I Date Published Tuesday 3rd July 2018

CRC_Logo_620x349-1

Retail Sales Advisor

Chain Reaction Cycles I Belfast I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018