TAIPEI: Taiwan is expected to post solid economic growth in the first quarter, its fourth quarterly expansion in a row, thanks to strong global demand for components for the new iPhone and other hi-tech electronic gadgets, a Reuters poll showed.
The trade-reliant economy is expected to have grown 2.45 percent in January-March from a year earlier, versus 2.88 percent growth in the previous three months, according to 14 analysts surveyed by Reuters.
The island's exports surged the most in six years in the first quarter, buoyed by strong demand from China and the United States, and the momentum could continue as global suppliers race to make parts for Apple Inc's iPhone 8 ahead of its launch later this year.
The government raised its 2017 full-year economic growth forecast to 1.92 percent in February on stronger global demand, though the outlook for Asia's exporters remains clouded by worries about US trade protectionism under President Donald Trump.
The government will issue preliminary GDP figures in a statement with minimal commentary on Friday. Revised figures will be released about two to three weeks later, with more detailed analysis and forecasts.
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