- Full year 2025 GDP forecast trimmed to 3.1% vs previous 3.14%
- 2025 exports expected to rise 8.99% vs previous 7.08%
- 2025 CPI cut to +1.88% vs +1.94%
TAIPEI, May 28 (Reuters) - Taiwan's trade-reliant economy is expected to grow at a slightly slower pace in 2025 than previously forecast, weighed down by uncertainty over possible U.S. tariffs.
Taiwan is a key hub in the global technology supply chain for companies such as Apple and Nvidia, and home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC), .
Taiwan's gross domestic product for this year is now expected to be 3.1% higher than last year, the agency said, revising downward the 3.14% forecast it issued in February.
That would also be lower than the 4.59% growth rate for 2024.
Exports this year are expected to grow 8.99%, the agency said, upgrading a previous forecast of 7.08%.
For the first quarter of this year, GDP expanded by 5.48%, the agency said, compared with a preliminary reading of 5.37%.
The first quarter's performance marked the fastest rate since the first quarter of 2024 when the economy expanded 6.64%.
The statistics agency also slashed the 2025 consumer price index (CPI) forecast to 1.88% from the previous 1.94%.
Reporting by Faith Hung and Jeanny Kao; Editing by Sharon Singleton
Source: Reuters