Gross domestic product expanded 3.51 percent last year, the best annual rate since 2011 while fourth quarter on-year growth at 3.17 percent came in line with expectations of 3.1 percent forecast in a Reuters poll.
But the quarterly gain was the slowest since the 1.45 percent made in the third quarter of 2013, preliminary figures from the Directorate General of Budget, Accounting and Statistics showed Friday.
Since the statistics agency's last GDP review in late November, central banks around the world have acted to counter disinflation and slowing growth by easing monetary policy even as the U.S. economy appears to be in good heart.
Taiwanese authorities have cautioned that growth in exports and export orders may slow, citing fragile economies in China and Europe as uncertainties.
For the current quarter, growth could be fairly similar to last quarter's, said Forest Chen, analyst at TC Bank in Taipei. Manufacturers may delay importing raw materials until they believe falling commodity prices, including oil, stabilize, he said.
The Federal Reserve's latest upbeat assessment of the U.S. economy, the ultimate destination for many Taiwan-produced tech gadgets, continues to favour a more optimistic view on Taiwan's economy.