ADB Estimates Taiwan's Economic Growth at 7.6%, Topping Asia-Pacific Advanced Economies
The Asian Development Bank forecasts Taiwan's 2024 GDP growth at 7.6%, driven by the global AI boom and strong tech exports, making it the leader among Asia-Pacific advanced economies despite geopolitical uncertainties.
📋 Article Processing Timeline
- 📰 Published: April 10, 2026 at 16:27
- 🔍 Collected: April 10, 2026 at 17:00 (33 min after Published)
- 🤖 AI Analyzed: April 20, 2026 at 06:46 (229h 45m after Collected)
Agence France-Presse reported that the Asian Development Bank (ADB) indicated in its "Asian Development Outlook" report that if the war between the US/Israel and Iran drags on into the third quarter, the economic growth forecast for the developing Asia-Pacific region will be further downgraded, potentially dropping to 4.7% this year and 4.8% next year.
The ADB stated bluntly in its assessment: "The growth outlook for most developing economies in the Asia-Pacific will deteriorate this year and next."
ADB Chief Economist Albert Park told the media that the Asia-Pacific region is a net energy importer, making it particularly vulnerable to the fallout from the war.
The ADB report, finalized in March, noted that if the Middle East conflict stabilizes early, the inflation rate in the developing Asia-Pacific region is projected to rise to 3.6% this year and 3.4% next year; however, if the conflict escalates further, it could soar to 5.6% this year.
The ADB has classified Taiwan, Japan, South Korea, Singapore, Hong Kong, Australia, and New Zealand as advanced Asia-Pacific economies, hoping the revised classification better reflects the development status of each economy.
The report highlighted that strong external demand for technology exports drove Taiwan's Gross Domestic Product (GDP) growth near historic highs last year. Despite geopolitical shocks this year, with the ongoing global artificial intelligence (AI) boom and recovering domestic demand, Taiwan's economic growth is expected to remain robust and led by the technology sector. Inflation is expected to rise amid the ongoing Middle East conflict but should moderate over the forecast period.
Among the advanced Asia-Pacific economies, the ADB forecasts Taiwan will take the top spot with a GDP growth rate of 7.6% this year, followed by Singapore at 3.0%; Hong Kong at 2.6%; Australia at 2.0%; South Korea and New Zealand at 1.9%; and Japan at 0.7%.
In addition, China's economic growth rate is projected to fall to 4.6% this year and 4.5% next year. The report stated this is primarily due to continued weakness in the real estate market and slowing export growth. (Compiled by Lu Ying-tzu) 1150410
The ADB stated bluntly in its assessment: "The growth outlook for most developing economies in the Asia-Pacific will deteriorate this year and next."
ADB Chief Economist Albert Park told the media that the Asia-Pacific region is a net energy importer, making it particularly vulnerable to the fallout from the war.
The ADB report, finalized in March, noted that if the Middle East conflict stabilizes early, the inflation rate in the developing Asia-Pacific region is projected to rise to 3.6% this year and 3.4% next year; however, if the conflict escalates further, it could soar to 5.6% this year.
The ADB has classified Taiwan, Japan, South Korea, Singapore, Hong Kong, Australia, and New Zealand as advanced Asia-Pacific economies, hoping the revised classification better reflects the development status of each economy.
The report highlighted that strong external demand for technology exports drove Taiwan's Gross Domestic Product (GDP) growth near historic highs last year. Despite geopolitical shocks this year, with the ongoing global artificial intelligence (AI) boom and recovering domestic demand, Taiwan's economic growth is expected to remain robust and led by the technology sector. Inflation is expected to rise amid the ongoing Middle East conflict but should moderate over the forecast period.
Among the advanced Asia-Pacific economies, the ADB forecasts Taiwan will take the top spot with a GDP growth rate of 7.6% this year, followed by Singapore at 3.0%; Hong Kong at 2.6%; Australia at 2.0%; South Korea and New Zealand at 1.9%; and Japan at 0.7%.
In addition, China's economic growth rate is projected to fall to 4.6% this year and 4.5% next year. The report stated this is primarily due to continued weakness in the real estate market and slowing export growth. (Compiled by Lu Ying-tzu) 1150410