Taiwan Economy Grows at Fastest Pace Since 2021 on AI Boom
- GDP expands 6.51% in 1Q, faster than economist estimates of 6%
- Exports of AI equipment were the main driver of growth
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Taiwan’s economy expanded at the fastest pace in almost three years as global demand for artificial intelligence-related technologies fueled a boom in exports.
Gross domestic product grew 6.51% year-on-year to NT$5.46 trillion in the first quarter, according to a statement from the statistics bureau in Taipei on Tuesday, the fastest pace since the second quarter of 2021. That was stronger than the 6% increase economists had forecast in a Bloomberg survey.