TAIPEI (Taiwan News) – The economy will grow by 3.81% this year instead of by 3.38% thanks to a surge in exports as a result of strong demand for AI technology, the Chung-Hua Institution for Economic Research (CIER) said Friday (July 19).
The think tank discounted the impact of comments by United States Republican presidential nominee Donald Trump on Taiwan’s economic growth this year, Radio Taiwan International (RTI) reported. The country’s economy was on a steady path, allowing the GDP forecast to be raised by 0.43% compared to April, according to the CIER.
The development of the AI sector is fueling the stock market, resulting in growing private consumption. At present, the economy was both “warm on the outside and warm on the inside,” the think tank said.
CIER Acting President Wang Jiann-chyuan (王健全) advised the government to make better use of its policy instruments to increase its influence in Washington.
The U.S.-Taiwan Initiative on 21st Century Trade could help U.S. public opinion understand that Taiwan was playing its part and prevent the country from becoming a target for criticism, he said.
