Taiwan’s economy sees fastest growth in three years due to tech exports
2025.01.24 04:05
Investing.com — Taiwan’s economy experienced its fastest growth in three years in 2024, driven primarily by technology exports in the AI industry. The growth, however, is faced with uncertainty this year due to potential tariff threats by President Donald Trump.
The nation’s gross domestic product (GDP) increased by 4.3% on-year, as reported by the statistics bureau on Friday. This growth aligns with the median estimate put forth by a Bloomberg survey of economists.
The GDP for the fourth quarter of 2024 was recorded at 1.84%, falling slightly short of the estimated 2.0%. This marks the third consecutive quarter where the economic expansion has seen a slowdown, highlighting the challenges Taiwan faces in sustaining rapid growth.
Looking ahead, the statistics bureau has revised its growth prediction for the economy in 2025. The new forecast suggests a growth of 3.29%, a slight increase from the previously predicted 3.26%.
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