Taiwan’s Economy Expands More Than Expected, Riding AI Boom
- GDP grew 5.09% in the second quarter, topping estimate of 4.8%
- Growth has soared on demand for chips, servers that support AI
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Taiwan’s economy grew more than expected in the second quarter of 2024, riding global demand for artificial intelligence-related technologies.
Gross domestic product grew 5.09% on-year, according to a statement from the statistics bureau in Taipei on Wednesday. That was stronger than the 4.8% increase economists forecast in a Bloomberg survey. Capital formation rose 15.3% year-on-year as companies increased investment in equipment, construction and intellectual property.