Economic outlook rosy with AI boom and tariff fixTICKING ALONG: Global demand for what Taiwan offers and eased tariff tensions have the economic outlook for this year looking strong, economic researchers saidBy Crystal Hsu / Staff reporterTaiwan’s economy is projected to expand 4.14 percent this year, driven by strong global demand for artificial intelligence (AI) hardware that continues to boost exports and imports, the Chung-Hua Institution for Economic Research (CIER, 中經院) said yesterday. “The forecast does not yet account for the recently concluded Taiwan-US tariff negotiations, which are expected to have a positive impact on traditional industries, technology and investment,” Lien said. Chunghua Institution for Economic Research president Lien Hsien-ming speaks to reporters in Taipei on Sept. 2, 2024. Exports are forecast to reach US$760.8 billion, an 18.75 percent increase from last year’s record high, providing solid support for economic growth, CIER researcher Peng Su-ling (彭素玲) said. Cathay United Bank Co’s (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said the growth outlook could rise as export momentum in the electronics sector grows.
