Supported by a well-developed economy and good infrastructure, Taiwan's cement market has reached a relatively mature stage. As domestic producers face headwinds including overcapacity, rising cement imports and higher energy costs, the cement sector has also been turning its attention to carbon neutrality and building a sustainable industry. by Taiwan Cement Manufacturers' Association, Taiwan.
Taiwan's GDP growth rate in 2021 reached 6.53 per cent due to the lifting of pandemic-related lockdown measures in western countries, robust exports from the country's IT industry, expansion of production, and the return investment of overseas Taiwanese businesses (see Figure 1). For 2022 Taiwan's GDP growth is estimated to have been 3.1 per cent due to rising energy costs, higher interest rates, global supply chain shortages and inflation. The economic situation in Taiwan is expected to remain stable during the year in hand.
