Taiwan’s June exports surpassed expectations, driven by demand in the artificial intelligence (AI) industry and a strong performance in the US market. According to the finance ministry, exports rose by 23.5% to reach US$39.9 billion, marking the eighth consecutive monthly increase.
The surge in exports was attributed to the growing opportunities in new technology applications like AI and high-performance computing. Taiwan’s advanced chip production capacity, supported by companies such as TSMC, played a significant role in this export growth. These Taiwanese firms are crucial suppliers for tech giants like Apple and Nvidia.
In June, exports to the United States saw a remarkable 74.2% increase, outperforming the 36.4% rise in May. Shipments to China, Taiwan’s largest trading partner, also improved with a 7.3% increase compared to the previous month’s 5.3% drop.
Electronic components were a significant contributor to Taiwan’s export growth, with shipments rising by 7.3% to US$14.58 billion in June. Semiconductor exports specifically increased by 7.6% during the same period.
Importantly, Taiwan’s import sector also saw substantial growth, jumping by 33.9% to US$35.22 billion in June. Despite economists’ forecast of a 15% gain, the actual increase exceeded expectations.
Looking ahead, the finance ministry predicts a further increase in export momentum in the second half of the year, driven by the peak season for exports and the continued demand for Taiwanese technological products. The forecast for July suggests a potential rise of 3% to 6% in exports compared to the previous year.
Overall, Taiwan’s export industry showcased resilience and strong performance in June, fueled by the booming AI sector and steady demand from key markets like the United States. With the island’s position as a crucial link in the global supply chain, Taiwan is well-positioned to sustain this growth trajectory in the coming months.
