Taiwan's economy is expected to expand 1.42% in 2023, the Directorate General of Budget, Accounting and Statistics said on Tuesday, downgrading its outlook from a previous estimate of 1.61%.

Gross domestic product (GDP) expanded by a revised 2.32% in the third quarter from a year earlier, unchanged from a preliminary reading, it said. But exports have been weak.

(Reporting by Jeanny Kao and Faith Hung; Editing by Kim Coghill)