Taiwan economy grows 13.69% in Q1, highest in 39 years

TAIPEI (Taiwan News) — Taiwan’s economy grew an estimated 13.69% in the first quarter, the highest quarterly level in nearly 39 years, the Directorate-General of Budget, Accounting and Statistics said Thursday.

Surging demand for artificial intelligence drove exports and investment, while private consumption also outperformed expectations, per CNA. The DGBAS said the figure was 2.23 percentage points higher than its February forecast and marked the strongest quarterly growth since the third quarter of 1987.

The agency said demand for AI, high-performance computing, and cloud infrastructure remained robust, CNA reported. At the same time, mass production of next-generation high-end products boosted exports of electronic and information and communications technology goods.

Strong demand for emerging technology applications also helped sustain business investment momentum. In addition, the ongoing impact of government cash handouts and record-high stock market levels, which boosted the wealth effect, contributed to better-than-expected private consumption.