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Economy

Taiwan revises up Q1 GDP growth to 8.92%

Government also raises full-year forecast despite COVID-19 surge

A man walks in a tea house alley in the Wanhua District of Taipei on June 3.   © AFP/Jiji

TAIPEI -- Taiwan revised up its gross domestic product growth for the first quarter to 8.92% from a year earlier, after an initial reading of 8.16% in April.

With the island notching its fastest expansion in a decade, the government raised its full-year forecast to 5.46% despite a surge in COVID-19 infections forcing it to implement movement restrictions.

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