Taiwan’s export-dependent economy returned to growth in the second quarter, helped by resilient domestic consumption, while exports remained weak as a result of flagging demand for the island’s technology products amid global economic challenges.
A night view of the city as seen from Taipei 101 observatory in Taipei, Taiwan, Jan 17, 2023. REUTERS/Ann Wang/File photo
TAIPEI – Gross domestic product expanded by a preliminary 1.45 percent in the April-June period versus a year earlier, the statistics agency said on Friday, beating the 0.8 percent growth forecast in a Reuters poll.Quarter-on-quarter, the economy expanded at a seasonally adjusted annual rate of 7.02 percent.
GDP in the first quarter had fallen 2.87 percent from a year earlier, with the economy slipping into recession.
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