Taiwan Q3 economic growth highest in over two years

Taiwan's economy grew 3.1 percent in the July-September period to a ten-quarter high thanks to robust overseas demand for consumer electronics products, the government said Friday.

Traditionally an export-driven technology hub, Taiwan is home to industry giants such as Foxconn and Taiwan Semiconductor Manufacturing Com-pany (TSMC) -- key suppliers for Apple's iPhones.

Third-quarter growth was the highest since 3.99 percent in the 2015 first quarter, boosted by a 17.49 percent increase in exports, of which 14.99 percent was from electronic components, it said.

The island benefitted from global economic recovery and growing peak-season shipments for consumer electronic products in this period, said the Directorate-General of Budget, Accounting and Statistics.