TAIPEI :Taiwan's economy grew at a slower pace in the first quarter compared with the previous three months but still performed better than expected, supported by strong tech exports and global demand for chips but affected by weaker consumer confidence.
As a key hub in the global technology supply chain for giants such as Apple Inc, Taiwan's economy has outperformed many regional peers during the COVID-19 pandemic, benefiting from robust demand for tech exports as more people have turned to working and studying from home. Total first-quarter exports soared 23.5 per cent from a year earlier in U.S. dollar terms, the agency said.
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