Taiwan's economy experienced significant growth in the first quarter of 2024, expanding at its fastest pace in nearly three years. This growth, measured at 6.51%, was primarily driven by a surge in global demand for artificial intelligence-related technologies, which significantly boosted the country's exports. This performance exceeded economist expectations, which had forecasted a growth rate of 6%. Additionally, Taiwan's factory activity saw expansion for the first time in two years, contributing to a broader economic rebound across Asia.
Taiwan’s factory activity expanded for the first time in two years, leading a broad rebound in Asia https://t.co/C6rUO9Naed
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, per Bloomberg. GDP expanded 6.51% in 1Q, faster than economist estimates of 6%.
Taiwan Q1 preliminary GDP hits 3-year high on robust AI demand https://t.co/7skNqLZPCf
Taiwan's economy grew 6.5% in Q1 https://t.co/DXo0oU9hbZ
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. https://t.co/NBur9iKdlo