Business

Coffee sales were expected to exceed NT$40 billion (US$1.22 billion) in Taiwan for a second consecutive year in 2024, reflecting the growing thirst for coffee in Taiwan and the lifestyle it represents.

Taiwan's gross domestic product (GDP) grew 4.30 percent in 2024, a three-year high, after the country reported the better-than-expected economic growth in the fourth quarter, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday.

On the back of strong domestic demand, Taiwan saw retail sales and revenue generated by its food and beverage sectors hit record highs in 2024, according to the Ministry of Economic Affairs (MOEA).

The U.S. dollar fell against the Taiwan dollar Friday, shedding NT$0.088 to close at NT$32.682.

The Taiwan Institute of Economic Research (TIER) on Friday said that it had raised its forecast for Taiwan's 2025 gross domestic product (GDP) growth to 3.42 percent, citing positive factors including increasing investments, solid private consumption and stronger exports.

The U.S. dollar was traded at NT$32.777 at 10 a.m. Friday on the Taipei Foreign Exchange, up NT$0.007 from the previous close.

Taiwan recorded its first growth in industrial production in 2024 after two consecutive years of decline, driven by demand for artificial intelligence (AI) applications and high-performance computing (HPC) devices, the Ministry of Economic Affairs reported Thursday.

Taiwan's government on Thursday pledged to reduce carbon emissions between 26 and 30 percent by 2030 compared to 2005 levels, saying the more ambitious goal reflected the nation's commitment to net zero.

A flight safety board will review hard landing and crew overtime incidents involving two Taiwanese carriers during Typhoon Kong-rey last October and decide if warnings or punitive actions are required, the Civil Aviation Administration (CAA) said Thursday.

The U.S. dollar fell against the Taiwan dollar Thursday, shedding NT$0.004 to close at NT$32.770.