Taiwan trims 2025 GDP growth forecast, cites U.S. tariffs uncertainty
TAIPEI, May 28 (Reuters) - Taiwan's trade-reliant economy is expected to grow at a slightly slower pace in 2025 than previously forecast, weighed down by uncertainty over possible U.S. tariffs.
Taiwan is a key hub in the global technology supply chain for companies such as Apple (AAPL.O), opens new tab and Nvidia (NVDA.O), opens new tab, and home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW), opens new tab, .
Taiwan's gross domestic product for this year is now expected to be 3.1% higher than last year, the agency said, revising downward the 3.14% forecast it issued in February.
That would also be lower than the 4.59% growth rate for 2024.
Exports this year are expected to grow 8.99%, the agency said, upgrading a previous forecast of 7.08%.
For the first quarter of this year, GDP expanded by 5.48%, the agency said, compared with a preliminary reading of 5.37%.
The first quarter's performance marked the fastest rate since the first quarter of 2024 when the economy expanded 6.64%.
The statistics agency also slashed the 2025 consumer price index (CPI) forecast to 1.88% from the previous 1.94%.
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