Taiwan’s exports surged to an all-time high last month, powered by booming global demand for artificial intelligence (AI) and high-performance computing chips, as well as inventory stocking ahead of new consumer electronics releases, the Ministry of Finance said yesterday.
Overseas shipments rose 34.1 percent from a year earlier to US$58.49 billion, the 22nd consecutive month of growth and a new single-month record, the ministry said.
Last month’s figure also marked a symbolic milestone, as Taiwan’s export value overtook that of South Korea for the first time, it said.
Photo: CNA
South Korea’s exports slipped to US$58.4 billion last month, dragged down by weak memorychip prices, allowing Taiwan to pull ahead by US$900 million, Department of Statistics Director-General Beatrice Tsai (蔡美娜) said at a news conference in Taipei.
“The growth momentum proved surprisingly stronger than expected despite fading effects from a front-loaded buying spree triggered by earlier US tariff concerns,” Tsai said.
Taiwan has historically lagged behind South Korea in exports by about US$200 billion annually, or about US$17 billion each month, she said.
However, diverging industry trends have narrowed the gap this year, as Taiwan is benefiting from its leadership in advanced chip production, while South Korea’s export engine, long fueled by memorychips, is struggling with price declines.
The shift highlights how global trade patterns are being reshaped by the AI boom. Major US technology companies are sharply increasing orders for Taiwan-made chips and components to support data center expansion, while demand for smartphones and personal computers, once the backbone of Asian electronics exports, remains uneven.
Apple Inc was set to unveil its new iPhone 17 lineup, smartwatches and AirPods later yesterday ahead of the holiday season, which is expected to drive fresh business for Taiwanese companies across its global supply chain.
Taiwan’s exports to the US jumped 65.2 percent to US$19.63 billion last month, making the US the top export destination for the fourth consecutive month and accounting for 33.6 percent of total outbound shipments. China remained in second place with a 26 percent share.
Sales to ASEAN markets rose 46.7 percent, to Japan 34.3 percent and to China 15.9 percent. Europe was the only major market to decline, slipping 10.5 percent, partly due to tariff frictions, the ministry’s data showed.
Imports climbed 29.7 percent from a year earlier to US$41.66 billion last month, the third-highest level on record, boosted by purchases of semiconductors, information technology products and chip-making equipment. The trade surplus widened 46.3 percent to US$16.83 billion, figures that have increasingly drawn scrutiny amid trade frictions with the US, Tsai said.
With exports already up 29.2 percent year-on-year to US$398.43 billion in the first eight months of the year — already surpassing the total for all of last year — the ministry expects the momentum to be sustained.
Exports this month could expand by between 30 and 36 percent from a year earlier, Tsai said. She added that third-quarter results could beat the Directorate-General of Budget, Accounting and Statistics’ forecast by 6 to 8 percentage points, signaling potential for an upward revision to this year’s GDP growth, which currently stands at 4.45 percent.
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