TAIPEI (Taiwan News) — Taiwan's exports to Mexico, especially AI chips, spiked by almost 500% in January in anticipation of Trump's tariffs.

In November, Trump threatened to impose sweeping tariffs on Mexico, Canada, and China on his first day in office, prompting businesses to adjust ahead of his Jan. 20 inauguration, per Rti. According to the latest summary of exports and imports for January by the Ministry of Finance on Friday, Taiwan’s exports to Mexico in January surged 4.8 times year-over-year, setting unprecedented records in export value and growth rate.

The ministry pointed out that January is typically the off-season for traditional industries, further diminished by the Lunar New Year holiday. As a result, overall exports totaled US$38.71 billion, a decrease of 11.2% from December. 

However, despite fewer working days, January’s exports still hit the second-highest level for the same month in history, with a 4.4% year-over-year increase, marking 15 consecutive months of growth. The ministry attributed this to surging demand for AI and high-performance computing applications, as well as advanced stockpiling of inventory in response to Trump’s renewed trade war.

Taiwan exports in January saw mixed trends across major markets. Exports to the US plateaued, rising only 0.7% to US$8.46 billion (NT$277.74 billion), though this was still a record high for January and marked 18 consecutive months of growth.

Exports to China and Hong Kong plummeted in all sectors except information and communication technology (ICT). The total export value dropped 11.7% year-over-year, lowering Taiwan’s export share to China to below 30%, reaching just 27.7%, the lowest for the same month in 24 years.

In contrast, exports to Mexico skyrocketed as manufacturers made early adjustments in response to Trump’s pre-inauguration tariff threats. In January alone, exports surged 497% year-over-year to US$2.7 billion. 

Finance Ministry Statistics Director Tsai Mei-na (蔡美娜) said: “Another region that stood out this month is Mexico. Due to supply chain shifts and the effect of early shipments, the export value jumped to US$2.7 billion, with an annual growth rate of 4.8 times. This set unprecedented records in both scale and growth rate. At the same time, we also observed significant fluctuations in the share of exports across different regions in January.”

AI-related ICT and audio-visual products dominated export performance. The ministry described graphics card shipments as “explosive,” with exports reaching US$12.5 billion, a record high for January. The annual growth rate expanded to 32.6%, with total export value increasing by US$3.1 billion. 

These products have not only become a key driver of Taiwan's overall export growth but also pushed the share of ICT and audiovisual products to nearly one-third of total exports.

The MOF also predicts that Taiwan’s February exports are likely to continue growing, with a potential year-over-year increase of nearly 20%, driven by a low base effect and the ongoing AI application boom. However, growth in March may moderate due to the high base effect from last year.