Taiwan Turns Less Upbeat on Exports in Lowering Economic Outlook
- This year’s GDP forecast revised to 3.9% after three upgrades
- Taiwan’s reliance on export is source of economic uncertainty
Containers at the harbour in Keelung, Taiwan.
Photographer: Sam Yeh/AFP/Getty ImagesThis article is for subscribers only.
Taiwan revised down its estimate for economic growth in 2024 after three straight upgrades, projecting a smaller increase in exports but remaining optimistic about overseas demand for artificial intelligence-related products.
Gross domestic product is set to expand 3.9% this year, down from a previous estimate of 3.94% by the statistics bureau in May, according to a statement on Friday. In the first projection of next year’s growth, it said GDP will grow 3.26%.