Premier Lai Ching-te today said that Taiwan's latest economic indicators are pointing to positive and stable growth, with business orders trending up and the employment situation expected to improve into the future. He encouraged the Cabinet to carry on its pragmatic approach to tackling the challenges currently facing Taiwan as well as the next round of reforms, including raising low wage levels and establishing a social safety net.
In 2017, Taiwan's economy grew 2.6 percent, faster than the 0.7 percent and 1.5 percent growth rates in 2015 and 2016, respectively, the premier said. Last year's export orders climbed 11 percent to a record high US$492.8 billion, while the value of exports surged 13 percent to US$317.4 billion, the largest annual increase in nearly seven years and the second-highest value in history. The TAIEX also hit a 28-year high with listed companies taking in record revenues of NT$32.7 trillion (US$1.1 trillion), 7 percent more than in 2016. Meanwhile, the unemployment rate fell to a 17-year low of 3.76 percent.
These results are evidence that President Tsai-Ing-wen's policies are guiding the nation in the right direction, the premier said. He thanked Cabinet members for their hard work during this period and urged them to persevere in pushing these important policies.