Taiwan Q3 GDP grows 3.97%, beats forecast on solid AI demand

Slow China growth still weighing on export market

20241031 Keelung port Taiwan

Containers stacked up at Keelung port, northern Taiwan. The island nation's GDP grew by 3.97% in the third quarter. © Reuters

TAIPEI (Reuters) -- Taiwan's trade-dependent economy grew more than expected in the third quarter of 2024, thanks to stronger demand for new applications such as artificial intelligence-related products.

Taiwan is a key hub in the global technology supply chain for companies such as Apple and Nvidia, and home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co.

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