Taiwan’s exports expanded 20.6 percent annually last month, the strongest-ever February performance as continuously strong demand for artificial intelligence (AI) and high-performance computing and cloud-based devices offset holiday effects, Ministry of Finance statistics showed yesterday.
Last month was the 28th consecutive month of expansion, benefiting from the AI boom, the ministry said in a report. Exports climbed to US$49.8 billion last month from US$41.29 billion in the same period last year, with the US registering the fastest growth of 33.7 percent annually, it said.
Fewer working days due to the Lunar New Year holiday last month led to a 24.3 percent decline in exports compared with US$65.77 billion in January, it added.
Photo: CNA
Taiwan is expected to register strong growth in exports during the first quarter, thanks to substantial capital expenditure increases on AI infrastructure by the world’s major cloud service providers, the ministry said.
Governments across the world are stepping up sovereign AI deployment to increase computing power, fueling demand for Taiwan-made semiconductors and information and communications technology (ICT) goods, the ministry said. Increases in manufacturing capacity for advanced chips and packaging technologies would drive exports growth, it said.
It remains unclear how the Middle East war would affect Taiwan’s exports this month as it depends on how long the conflict would last, the ministry said, warning an extended conflict could elevate global inflation, depress consumer confidence and slow the world economy, posing a risk for exports.
In the first two months of this year, Taiwan’s exports grew 44.5 percent annually to US$115.57 billion, while imports jumped 32.5 percent to US$20.60 billion, resulting in a trade surplus of US$31.66 billion, which soared 89.69 percent from the same period of last year, the ministry said.
ICT products were the biggest driver in the nation’s exports during the January to February period, soaring 81.5 percent year-on-year to US$48.22 billion, hitting the highest level ever, the ministry said. Computing products including servers almost doubled from the year ago to US$18.21 billion, it said.
Electronic components came next with exports amounting to US$40.34 billion, up 41.9 percent annually. In this category, semiconductor exports jumped 43.6 percent to US$38.09 billion, with DRAM exports skyrocketing 185.5 percent, the ministry’s data showed.
Plastics and rubber products, and textile products were the only two segments posting declines of 2.4 percent and 5.3 percent to US$2.8 billion and US$932 million in exports during the first two months respectively.
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