TAIPEI (Taiwan News) – Taiwan’s exports rose by 3.5% in May compared to the same period last year, marking the seventh consecutive month of growth, the Ministry of Finance (MOF) said Friday (June 7).

The total for May reached US$37.36 billion (NT$1.2 trillion). Nevertheless, the figure amounted to a decline of 0.3% from April, Radio Taiwan International (RTI) reported. Imports rose 0.6% from May 2023 to US$31.31 billion, and 0.9% from April 2024.

The value of exports for January-May surged 9.1% from the same period last year to US$185.14 billion, while imports rose 3.2% to US$153.69 billion over the same period, MOF said.

The stable recovery of the global economy and growing demand for AI and high performance computing (HPC) products were the main drivers behind Taiwan’s export growth, according to MOF. 

Looking ahead to the second half of this year, ministry analysts said Taiwan’s exports would benefit from the expanding opportunities for high tech and from the competitiveness of the domestic semiconductor sector.