Taiwan Q1 GDP Growth Improves More Than Estimated

(RTTNews) - Taiwan's economic growth accelerated more than initially estimated in the first quarter, the latest data by the Directorate General of Budget, Accounting, and Statistics, or DGBAS, revealed on Friday.

Gross domestic product, or GDP, advanced 14.55 percent year-on-year in the March quarter, faster than the revised 12.95 percent increase in the December quarter. In the flash estimate, the rate of growth was 13.69 percent.

On the demand side, real exports of goods and services grew by 35.76 percent, driven by the strong external demand driven by artificial intelligence and related infrastructure. Gross capital formation expanded 5.92 percent amid more investments in machinery and equipment, intellectual property products, and transport equipment.

Private final consumption rose 4.74 percent as households spent more on information and communication, entertainment, transport, and booming outbound tourism, as well as the securities and funds transaction fees boosted by a flourishing financial market.

On a quarter-on-quarter, seasonally-adjusted annualized basis, GDP rose 6.94 percent in the first quarter.

Looking ahead, real GDP is projected to grow by 9.64 percent in 2026, revised upward by 1.93 percentage points from the previous forecast.