Central Bank of China - Annual Report 2004

According to the Central Bank of China's Annual Report 2004, Taiwan's external trade performed exceptionally well in 2004, driven by the global economic recovery.

Domestic demand also picked up as a result of buoyant consumption and investment. However, during the second half of the year, surging oil prices, interest rate hikes by major countries and the high base of 2003 caused a drag on the pace of economic expansion. Nevertheless, GDP managed to grow by a brisk 5.71 percent for the year as a

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