Taiwan's 2014 growth at 3-year high

Taipei

TAIWAN'S export-driven economy grew at its fastest pace in three years in 2014 fuelled by global demand for smartphones from Apple Inc and other technology goods, but there are risks that near-term growth could be undermined by a weakening global outlook.

Gross domestic product expanded 3.51 per cent last year, the best annual rate since 2011 while fourth quarter on-year growth at 3.17 per cent came in line with expectations of 3.1 per cent forecast in a Reuters poll.