Taiwan achieved a record high in exports for August, reaching $43.64 billion, marking a 16.8% increase from the previous year. This significant rise exceeded the 7.35% growth forecasted by Reuters and the 3.1% increase observed in July, making it the tenth consecutive month of export growth. The finance ministry attributed this milestone to robust business in artificial intelligence (AI) and high-performance computing sectors, as well as increased stockpiling by international brands. The ministry’s statement highlighted the continued strong demand for AI-related products and components.
Looking ahead, the ministry anticipates a “gradual upward slope” in export growth for the remainder of the year, driven by the end-of-year holiday shopping season in major markets such as the United States and Europe. Taiwanese companies like TSMC, a leading contract chipmaker, supply major tech firms including Apple and Nvidia. The ministry forecasted that exports in September could increase by 5% to 9% compared to the previous year.
In August, exports to the United States surged by 78.5% to $11.89 billion, setting a new record, following a 70.3% increase in July. Shipments to China, Taiwan’s largest trading partner, rose by 1.0% from the previous month, reversing a 13.5% decline. Total shipments of electronic components increased by 0.1% to $15.15 billion, while semiconductor exports experienced a slight decline of 0.5%. Imports also saw an 11.8% rise to $32.14 billion, though this fell short of economists’ expectations of a 15.0% increase.
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