GDP could grow over 10% this year: minister - Taipei Times

STRONG EXPORTS:

Orders have grown across industries from a year earlier, with the Taiwan Research Institute forecasting GDP growth of 9.64 percent for this year

By Meryl Kao

/ Staff Reporter

Taiwan’s GDP growth could exceed 10 percent this year on the back of robust demand for artificial intelligence (AI)-related products and stronger-than-expected exports, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday.In addition, outbound shipments have improved across industries from a year earlier, with machinery orders posting double-digit percentage growth in the first five months of this year, Kung said at a meeting of the legislature’s Economics Committee in Taipei.The Taiwan Research Institute on Tuesday adjusted its GDP growth forecast upward to 9.33 percent for this year, while the Directorate-General of Budget, Accounting and Statistics last month revised its forecast to 9.64 percent — the highest in 16 years.