TAIPEI (TVBS News) — Taiwan's economy is projected to grow by 3% this year despite global trade headwinds, according to Kung Ming-hsin (龔明鑫), Secretary-General of the Executive Yuan (行政院), Taiwan's cabinet, who spoke Friday (May 16) at a press conference marking the administration's anniversary. Kung revealed that Taiwan's exports are expected to reach an unprecedented US$550 billion in 2025, overcoming various international tariff barriers that have challenged the export-dependent economy.
The top economic official emphasized Taiwan's exceptional performance among the Four Asian Tigers — a group that includes Singapore, South Korea, and Hong Kong — noting that Taiwan achieved the highest economic growth rate within this cohort in 2024. Kung attributed the positive 2025 forecast to favorable international market conditions that have unexpectedly benefited Taiwan's technology-focused economy. Export figures have already shown remarkable momentum, with the first four months of 2025 registering a 20% increase compared to the same period last year, building upon 2024's near-record performance of US$475 billion.
Kung detailed several government initiatives driving economic growth, including the Executive Yuan's Economic Development Commission's successful promotion of 81 public-private infrastructure projects valued at over NT$111.6 billion (approximately US$3.7 billion). The commission has also issued sustainable development bonds totaling NT$65.4 billion (about US$2.17 billion). Kung further noted that the Asian Asset Management Center has made significant progress in 2025, finalizing the Taiwan-Japan cross-border ETF program and approving investments from 15 private banks in renewable energy projects worth NT$57.8 billion (roughly US$1.92 billion).
The cabinet secretary-general highlighted Premier Cho Jung-tai's (卓榮泰) administration's commitment to ensuring economic benefits reach all segments of Taiwanese society through policies promoting inclusive growth and balanced regional development. Priority initiatives include enhanced support programs for small and medium enterprises, acceleration of social housing construction, and expanded educational tuition subsidies for families. Kung concluded by outlining eight forward-looking policy directions, including the establishment of a dedicated Ministry of Sports and strategic investments to strengthen Taiwan's globally competitive semiconductor industry and emerging smart robotics sector. ◼