Taiwan GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

2.9

Units In

4.17

Frequency

Quarterly

Next Release

May 29, 2025

Time to Release

27 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
17.26 Sep 1978	-7.88 Mar 2009	6.96 %	1962-2024	N/A

Taiwan’s economy is export oriented. As such, manufacturing is crucial and accounts for around 31 percent of GDP. Like in most advanced economies, the services sector is the biggest and constitutes nearly 65 percent of GDP. Within services, the most important are wholesale and retail trade (17.3 percent of GDP); real estate (8 percent of GDP); and public administration and defense (6.4 percent of GDP).

Latest Updates

Taiwan on Wednesday unexpectedly raised its 2025 economic growth forecast to 3.6%, up from 3.14%, following a strong first-quarter performance driven by a surge in exports, particularly in tech, ahead of potential U.S. import tariffs. The economy expanded 5.37% yoy during the first three months of the year, the fastest since Q1 2024. Strong production, exports, and investment, fueled by AI-driven demand, contributed to the growth. "First-half expectations are revised up, but there are more uncertainties for the second half," said Wang Tsui-hua of the Directorate General of Budget, Accounting, and Statistics. Quarter-on-quarter, the economy grew at a seasonally adjusted 9.67%. This boost comes after U.S. President Trump paused plans for sweeping tariffs, allowing for ongoing negotiations. Taiwan's tech firms reported strong demand, particularly driven by AI applications.