Taiwan reports 6.28 percent economic growth in 2021

TAIPEI -- Taiwan's economy grew by 6.28 percent in 2021 on the back of strong exports and investments, posting the highest growth rate since 2011, the island's statistics agency said.

The GDP growth beat an earlier forecast of 6.09 percent made in November, according to the agency.

The growth figure was the result of a strong performance in the fourth quarter (Q4), when the economy grew by 4.88 percent year on year, higher than the previous forecast of 4.15 percent.

In Q4 of 2021, Taiwan's exports of goods and services rose 11.92 percent year on year, mainly driven by strong international demand for manufacturing products, the agency added.

Taiwan's economic growth is expected to reach 4.1 percent this year, the Taiwan Institute of Economic Research, a leading economic think tank, said earlier this week.