By Faith Hung and Emily Chan
TAIPEI (Reuters) -Taiwan’s exports grew at their fastest clip in nearly 16 years in October, setting a record as booming demand for chips and artificial intelligence (AI) technology outpaces the effects of U.S. tariffs on the island’s goods.
Exports jumped 49.7% in October from a year earlier to $61.80 billion, a record amount in dollars and the fastest growth since 57.7% logged in May 2010, the finance ministry said on Friday.
The figure easily surpassed the 31.6% increase forecast by economists in a Reuters poll.
It also marked the 24th consecutive monthly year-on-year gain.
Taiwan’s exports to the United States are subject to a 20% tariff, which Taipei is in talks to reduce, though semiconductors are at present excluded.
Taiwan’s export momentum is expected to be buoyed both by the continued acceleration of AI and high-performance computing applications and the traditional peak season of year-end shopping in western markets, the ministry said in a statement.
The ministry now expects 2025 exports to grow 30% year-on-year to $600 billion.
However, the global economic outlook remains highly uncertain, as U.S. tariff policies take shape and geopolitical risks linger, so there is need for careful monitoring, the statement added.
Taiwan companies such as TSMC,, the world’s largest contract chipmaker, are major suppliers to Nvidia, Apple and other tech giants.
For November, the ministry expects exports to rise between 35% and 40% year-on-year.
In October, Taiwan’s exports to the United States soared 144.3% on-year to $21.135 billion, while exports to China climbed 3.2%.
Exports of electronic components rose 27.7% to $21.16 billion, with semiconductor exports up 29.2%.
Imports rose 14.6% to $32.22 billion, behind economists’ forecasts for an increase of 25.3%.
(Reporting by Faith Hung and Emily Chan; Editing by Christian Schmollinger and Kim Coghill)
Comments