TAIPEI (TVBS News) — Taiwan's Directorate General of Budget, Accounting and Statistics (DGBAS, 主計總處) revised the 2024 economic growth forecast on Friday (Nov. 29), citing robust private investment. The agency adjusted the growth rate to 4.27%, up 0.37 percentage points from its August projection, and forecasted a 3.29% growth rate for 2025.
The DGBAS attributed the upward revision to the surge in Taiwan's exports of electronic components and ICT products, driven by the artificial intelligence wave. However, it noted that traditional industries continue to struggle with global overcapacity, resulting in sluggish export performance.
The agency also highlighted the impact of recent typhoons and heavy rains on the prices of vegetables and fruits, alongside rising costs in dining out, rent, and medical services. These factors led to a slight upward adjustment of the annual consumer price index (CPI) to 2.18%, with an estimated CPI of 1.93% for 2025.
