Taiwan GDP Forecast Increased for 2024

The Lao government anticipates a GDP growth of 4.6% in 2024, surpassing the National Assembly's target of 4.5%, driven primarily by the services, transportation, and wholesale sectors. Prime Minister Sonexay Siphandone attributed this growth to the effective implementation of socio-economic plans, despite facing challenges such as inflation and severe floods. In Taiwan, the economy is expected to grow by 4.27% in 2024, boosted by an AI-driven demand for tech products, particularly from the semiconductor industry, improving from a previous estimate of 3.9%. The statistics office also raised its 2025 growth forecast to 3.29% amid concerns about potential trade disruptions from U.S. tariffs under President-elect Donald Trump. Analysts express caution regarding the optimism of these forecasts due to ongoing geopolitical tensions and market conditions. Taiwan's economic resilience highlights its critical role in the global technology supply chain.