TAIPEI- Taiwan’s trade-dependent economy likely grew faster in the first quarter, supported by a rebound in exports amid upbeat demand for the technology that powers artificial intelligence (AI) applications, a Reuters poll showed on Monday.
Gross domestic product (GDP) is expected to have expanded 5.65 percent during January-March versus a year-ago period, according to the poll of 18 economists. GDP grew 4.93 percent year-on-year in the fourth quarter of 2023.
Economists’ forecast for preliminary GDP data, due on Tuesday, varied from an expansion of 4.2 percent to as much as 7 percent .
First-quarter exports rose 12.9 percent year-on-year, compared with the fourth-quarter’s annual expansion of just 3.4 percent , as Taiwan’s tech-heavy exporters like chipmakers rode a wave of AI demand.
Due to strong exports, the manufacturing sector is getting its wind back and unemployment remains low, SinoPac Securities Investment analyst Mickey Liao said.