Taiwan economy sees quickest growth in a year

Published 30/04/2025, 09:32
© Reuters.

Investing.com -- Taiwan’s economy, heavily dependent on trade, experienced its fastest growth in a year during the first quarter of 2025, compared to the last quarter of 2024. This growth was primarily driven by a surge in exports due to strong technology demand, in anticipation of potential U.S. import tariffs.

The nation’s Gross Domestic Product (GDP) expanded by a preliminary 5.37% in the first quarter from a year earlier. This growth rate is the quickest since the 6.64% recorded in the first quarter of 2024, as reported by the statistics agency on Wednesday. The recent growth surpasses the 3.4% increase predicted by analysts and outpaces the 2.9% growth seen in the fourth quarter of 2024.

Taiwan plays a significant role in the global technology supply chain, being home to Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker.

On a quarter-on-quarter basis, Taiwan’s economy grew at a seasonally adjusted annualized rate of 9.67%.

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