Taiwan's Export Boom: Record Highs Driven by AI and Tech Demand

In an unprecedented surge, Taiwan's exports reached USD 53.32 billion in June, marking the 20th consecutive month of growth according to Focus Taiwan. This represents a notable 33.7% increase from the previous year, driven largely by rising demands in artificial intelligence (AI) and high-performance computing sectors.

The Director-General of MOF's Department of Statistics highlighted that the looming U.S. tariffs deadline also motivated customers to expedite shipments. The information and communication technology and audio/video segments saw an exceptional year-on-year rise of 82.5% to USD 19.68 billion, buttressed by the booming AI market and tech product upgrades.

Electronic components continued to thrive with a 31.1% increase to USD 19.12 billion, spurred by the demand for advanced semiconductors. Conversely, sectors like plastics, chemical goods, and textiles reported declines. Notably, exports to ASEAN, Japan, China, and Hong Kong demonstrated substantial growth, offset by a dip to European nations. Taiwan also recorded its largest trade deficit with South Korea, underscoring evolving trade dynamics.

(With inputs from agencies.)