(MENAFN) Official data showed that Taiwan's economy logged its fastest growth rate in almost three years after strong local demand and steady exports led to a 3.74 percent expansion in 2014, Xinhua reported.
The gross domestic product (GDP) last year reached USD535 billion, Taiwan's statistical agency said. Meanwhile, the consumer price index (CPI) increased 1.2 percent in 2014.
The agency raised the economic growth forecast in 2015 to 3.78 percent, or 0.28 percentage points higher than the previous projection of 3.50 percent, which was made in November 2014.
The GDP economic growth in the fourth quarter of 2014 was also raised to 3.35 percent, compared with 3.17 percent originally estimated in January 2015, according to the data.
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