Taiwan’s exports soared 56 percent year-on-year to an all-time high of US$64.05 billion last month, propelled by surging global demand for artificial intelligence (AI), high-performance computing and cloud service infrastructure, the Ministry of Finance said yesterday.
Department of Statistics Director-General Beatrice Tsai (蔡美娜) called the figure an unexpected upside surprise, citing a wave of technology orders from overseas customers alongside the usual year-end shopping season for technology products.
Growth is likely to remain strong this month, she said, projecting a 40 percent to 45 percent expansion on an annual basis.
Photo: CNA
The outperformance could prompt the Directorate-General of Budget, Accounting and Statistics to raise its GDP growth forecast again after revising it to 7.37 percent from 4.45 percent last month, Tsai said.
Taiwan also topped South Korea in monthly exports for the third time this year, extending its lead over its key regional rival, the ministry said.
The gains were driven overwhelmingly by information and communications technology (ICT) products and electronic components, Tsai said.
ICT shipments soared 171 percent to US$28.36 billion, buoyed by robust demand for servers and graphic cards, she said.
Exports of electronic components, mainly semiconductors, rose 29.3 percent to US$21.63 billion as AI-related orders and firmer memory prices supported output.
The two categories together generated about US$50 billion in exports, accounting for 78 percent of the total. Their combined share for the first 11 months reached 73.7 percent, while exports of plastics and rubber products slid 13.6 percent amid weak global demand, Tsai said, adding that there is a persistent structural imbalance in which Taiwan’s tech firms, particularly those in the AI supply chain, remain the primary engine of growth.
Exports increased across all major markets last month. Shipments to the US jumped 182.3 percent to a record US$24.42 billion. Shipments to the US comprised 38.1 percent of Taiwan’s exports, as US tech giants accelerate investments amid the AI race.
Exports to Europe rose 36.8 percent, 31.5 percent to ASEAN markets, 18.2 percent to Japan and 16.5 percent to China, Tsai said, adding that Taiwan’s reliance on the Chinese market has fallen to a 24-year low.
Imports also hit a historic high, rising 45 percent year-on-year to US$47.97 billion last month as local manufacturers accelerated purchases of semiconductor and ICT equipment to support expanding AI-related supply chains.
Capital equipment imports rose 82.6 percent to a record US$11.53 billion as local tech firms expanded capacity to keep pace with growing customer demand, Tsai said.
Taiwan’s trade surplus surged to US$16.09 billion in the month, more than double the level a year earlier, the ministry said.
In the first 11 months of the year, exports rose 34.1 percent to US$578.49 billion, and imports increased 23.5 percent to US$440.6 billion, it said.
Taiwan’s export momentum would likely remain strong ahead, as AI applications continue to expand, underscoring the nation’s pivotal role in the global technology ecosystem, Tsai said.
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