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Economy

Taiwan Q3 GDP rebounds on significant uptick in consumer spending

Quarterly growth reaches 4.10% as COVID curbs are lifted

Shoppers crowd a traditional market on a recent evening in Taipei. (Photo by Yu Nakamura)

TAIPEI -- Taiwan's economic growth jumped to 4.10% in the third quarter of 2022 from the same period a year earlier despite weaker exports due to a strong rebound in domestic consumption as COVID-19 restrictions were eased, according to preliminary data from the statistics agency released on Friday.

The 4.10% growth represents a marked increase in annual gross domestic product for the July-September period compared with 3.05% for the previous quarter.

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