Taiwan’s exports last month surged 42 percent year-on-year to an all-time high of US$56.68 billion, the fastest pace since 2010, as demand for artificial intelligence (AI) and high-performance computing (HPC) products outweighed tariff concerns and buoyed global technology supply chains, the Ministry of Finance said yesterday.
Shipments marked a third straight monthly record and extended a 21-month expansion streak, powered by the proliferation of AI and HPC applications and robust client restocking after the US extended a “reciprocal” tariff grace period, Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.
Momentum is expected to hold through the third quarter, with this month’s exports forecast to rise by 17 to 22 percent, defying a projected contraction issued in May by the Directorate-General of Budget, Accounting and Statistics, Tsai said.
Photo: Ritchie B. Tongo, EPA
The statistics agency is likely to raise its GDP growth forecast when it meets on Friday next week, she said.
Electronics remained the main growth driver, with shipments of components climbing 34.1 percent and information and communications technology products soaring 87 percent year-on-year. Together, they rose 59.8 percent and made up 75.2 percent of total exports.
The US retained its position as Taiwan’s top export destination for the third consecutive month, taking a 32.9 percent share and displacing China, as the AI boom reshapes seasonal patterns in technology demand.
Exports to ASEAN surged 71.6 percent to US$11.63 billion, narrowing the gap with shipments to China at US$14.37 billion, amid global supply chain realignment, Tsai said.
Non-technology sectors continued to lag, with plastics and base metal exports down 1.8 percent and 4.6 percent respectively, suggesting an uneven recovery that is likely to persist, she said.
Imports jumped 20.8 percent to US$42.34 billion — the second-highest monthly level — on active purchases of semiconductor equipment and components for AI applications. That left Taiwan with a record trade surplus of US$14.34 billion, nearly triple that of a year earlier, the ministry said.
Cumulative trade surpluses with the US in the first seven months have already exceeded the total for all of last year, Tsai said, prompting Washington to impose a 20 percent tariff on Taiwanese imports.
The levy could trim US-bound shipments by 9 percent to 12 percent, mostly in non-technology goods, Tsai said, citing academic research.
It is too early to assess the impact of a separate 100 percent US tariff on semiconductors, she said, adding that exemptions would apply to companies with existing or planned manufacturing facilities in the US.
“There is little upon which to make assumptions until the White House announces more details,” Tsai said.
From January to last month, Taiwan’s exports rose 28.3 percent to US$339.94 billion, while imports gained 20.5 percent to US$269.89 billion. Both full-year figures are on track to set new records despite an expected slowdown in the second half as front-loading activity subsides, she said.
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