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Economy

Taiwan GDP growth slows to 3.06% in Q1 on weak consumption

Exports remain strong, logging growth of 23.5%

Weak domestic consumption in Taiwan is dragging down economic growth.    © Reuters

TAIPEI -- Taiwan's economic growth slowed to 3.06% in the first quarter of 2022 from the same period a year earlier, according to preliminary data from the statistics agency released on Thursday.

Gross domestic product expanded 4.86% and 4.37% in the third and fourth quarters, respectively, of last year, when the economy grew 6.28% overall.

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