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

BE2016_googlelogo

Senior Sales Executive

BikeExchange I UK I Salary TBC Depending on level of experience I Date published Tuesday 31st July 2018

bespoke biking promo

Bike Project Manager

Bespoke Biking CIC I The Bike Hub Winchester I Salary: £20-25k DOE I Date Published Tuesday 24th July 2018

Canyon_Logo

Technical Service Mechanic

Canyon Bicycles UK Ltd I Kingston upon Thames I Competitive Salary I Date Published Monday 6th August 2018

webuycycle promo

Business Manager

Bikeworks Derby/Webuycycle I Derby I Salary: Competitive but Negotiable DOE I Date Published Wednesday 15th August 2018

giant promo

Credit Controller

Giant Bicycles I Leicester I Salary: Competitive Salary Experience Depending I Date Published Wednesday 8th August 2018