India, Aug. 15 -- Taiwan's economy is expected to grow more than previously estimated this year on robust foreign demand for artificial intelligence and emerging technology applications.
The economy is projected to expand 4.45 percent this year, which was revised up from 3.1 percent estimated earlier, the Directorate General of Budget, Accounting & Statistics said Friday. The government expects real private fixed capital formation to increase 9.89 percent this year as leading domestic semiconductor firms are expanding their capacity to meet the ongoing AI-driven demand. Exports are forecast to advance 23.74 percent.
Growth in private consumption is seen at 0.85 percent as tariff-related uncertainties weigh on auto purchases.
The outlook ...