TAIPEI (Taiwan News) — Taiwan’s exports and imports both reached record highs last year, the Ministry of Finance said Friday.

For the full year, exports totaled NT$20.25 trillion (US$640.75 billion), a 34.9% increase from 2024, while imports rose 22.6% to NT$15.28 trillion. The annual trade surplus reached NT$4.97 trillion, also a new record, according to CNA and Yahoo.

Department of Statistics Director Tsai Mei-na (蔡美娜) said that although US tariffs affected trade, orders were brought forward, which helped offset the impact. As global economic conditions proved resilient, negative effects gradually eased.

The clear trend in AI development and its rapid adoption boosted upgrades in electronics components. Tsai said this complemented Taiwan’s competitive advantage in the information and communications technology (ICT) sector, supporting steady export growth throughout the year.

Quarterly export growth reflected this trend. The first quarter rose 17.5% year-on-year, followed by increases of 34.1% and 36.5% in the second and third quarters, respectively, while the fourth quarter climbed 49.4% to a record NT$5.94 trillion.

Among major exports, ICT and audiovisual products, along with electronic components, drove much of the growth. Exports of these products to the US increased 89.5% and 78.0%, both unprecedented figures.

The US overtook China to become Taiwan’s largest trade surplus partner for the first time in 26 years, with a surplus of NT$4.74 trillion, marking a historical high. Exports to the Association of Southeast Asian Nations, or ASEAN countries totaled NT$1.78 trillion, and shipments to South Korea reached NT$1.17 trillion, both record figures.

However, traditional industries continued to face pressure from international overcapacity and low-price competition. Excluding electronics and ICT products, year-on-year growth for other export categories remained modest at 0.3-1.9%, highlighting the asymmetric structure of Taiwan’s exports.