TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Company's overseas expansion led to a record number of Taiwanese working in the US in 2023, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS) on Thursday.

The number of Taiwanese working abroad reached a four-year high of 621,000 in 2023. A record 128,000 were employed in the US, per CNA.

DGBAS Deputy Director Tan Wen-ling (譚文玲) linked this rise to TSMC's upcoming fabs in Arizona and the company's global expansion. This has driven a surge in Taiwanese workers in the US and Japan.

Between 2009 and 2019, the number of Taiwanese working abroad grew from 662,000 to 739,000. The US-China trade war, technological disputes, supply chain restructuring, and COVID-19-related travel restrictions caused a drop in overseas employment, reaching a low of 319,000 in 2021.

As the pandemic's impact waned, the number of Taiwanese working overseas rebounded in 2022 and 2023. It reached 621,000 in 2023, a year-on-year increase of 148,000, although still below pre-pandemic levels.

While China remained the leading destination with 217,000 Taiwanese workers in 2023, its share dropped to 35%, down from 62.2% in 2011. This was due to factors like rising production costs and the return of Taiwanese businesses, Tan said.

The US, Southeast Asia, Japan, and South Korea followed as foreign work destinations. Tan also noted that the global trend of decoupling from China and its economic slowdown have influenced Taiwanese companies' investment choices, affecting overseas employment.

TSMC's first Arizona plant is set to begin 4nm production next year, with a second facility scheduled for more advanced processes in 2028. The company's Kumamoto plant in Japan is expected to start production in the fourth quarter, with a second fab planned for 2027, per CNA.

Construction of a German plant will begin in the fourth quarter, with production targeted for 2027. Meanwhile, TSMC’s Nanjing plant in China will continue expanding its 28nm capacity.