Staff writer, with CNA
The Taiwan Research Institute (TRI, 台綜院) yesterday raised its forecast of Taiwan’s GDP growth to 9.33 percent for this year, citing robust global demand for artificial intelligence (AI) applications.The new forecast represented a significant upgrade from the institute’s previous estimate of 3.46 percent made at the end of last year. It came closer to a similar upbeat forecast by the Directorate-General of Budget, Accounting and Statistics (DGBAS), which last month raised its prediction to 9.64 percent, from February’s 7.71 percent.Despite conflicts in the Middle East that have pushed up crude prices and inflationary pressure, strong demand for AI applications, high-performance computing and cloud-based data centers has offset the geopolitical impact, the institute said.
People walk across the street under the Taipei 101 building on March 24.
The institute forecast that merchandise and service exports would grow 19.62 percent year-on-year this year, thanks to strong demand for AI-related applications. In comparison, imports of merchandise and services would increase 16.34 percent, it said.With global demand for tech gadgets prompting semiconductor firms, AI server makers and related manufacturers to expand production, Taiwan’s private investment is expected to grow 6.16 percent this year, and fixed capital formation -- which includes public and private investment -- is projected to grow 5.53 percent, the institute said.
