TAIPEI: Taiwan’s economy is projected to grow faster in 2025 than earlier anticipated, driven by strong global demand for technology and artificial intelligence-related products, the statistics agency announced on Friday.
The Directorate General of Budget, Accounting and Statistics now expects gross domestic product to expand by 4.45% this year, up from its May forecast of 3.1%. Exports — buoyed by Taiwan’s role as a leading chip producer powering the AI boom — are forecast to surge 24.04%, a sharp upgrade from the previous 8.99% estimate.
This upbeat outlook comes despite a recent 20% tariff imposed by U.S. President Donald Trump on Taiwanese goods, which the government has described as “temporary” while negotiations for more favourable trade terms continue.
In the second quarter, GDP grew 8.01% year-on-year, slightly higher than the preliminary estimate of 7.96%. The CPI forecast was also revised lower to 1.76% from 1.88%.
Source: Reuters
