TAIPEI (Taiwan News) — Taiwan exported more to the US than to China in the first five months of the year as demand for chips and AI equipment grew, Bloomberg reported Friday.
Data compiled by Bloomberg showed Taiwan’s exports to the US reached about NT$3.73 trillion (US$116.1 billion) from January through May. China exported about NT$3.34 trillion to the US during the same period.
Bloomberg reported that the totals placed Taiwan third among exporters to the US, behind Mexico and Canada. It also said Taiwan’s exports to the US were about 12 times higher than 20 years earlier.
Taiwan’s economy grew 8.8% in 2025, according to Bloomberg. Economists surveyed by Bloomberg forecast growth of 9.5% in 2026, more than three times the projected global rate.
The expansion marked a sharp recovery from 2023, when Taiwan’s economy grew 1.1%. Bloomberg data also showed Taiwan had become home to the world’s fifth-largest stock market by total market value.
Semiconductors and electronic products have driven much of the export growth. These products are used in AI systems, smartphones, electric vehicles, cloud computing, and advanced defense equipment.
Bloomberg reported that electrical machinery, electronics, and computer-related products accounted for more than 53% of Taiwan’s exports. Lynn Song, ING chief economist for Greater China, said Taiwan’s semiconductor exports to the US rose 41% in April from a year earlier, after increasing 46% in March.
Tech companies have also gained a larger share of Taiwan’s stock market. Bloomberg data showed semiconductor and hardware companies accounted for 78% of the combined value of companies listed on the Taiwan Stock Exchange, compared with 64% in 2025 and 45% in 2015.
According to Bloomberg's supply chain data, major US chip companies relied heavily on Taiwan suppliers. Nvidia directed about 63% of its production spending to Taiwan companies, while Broadcom, AMD, and Qualcomm each directed about one-third.
TSMC recorded US revenue of about NT$2.92 trillion in 2025, according to Bloomberg. Revenue from the US accounted for 74% of the company’s total sales, up from an average of 64% during the previous decade.
Other Taiwan chipmakers also recorded strong gains. Bloomberg said Winbond Electronics’ market value increased ninefold over the past year as analysts raised their 2026 revenue forecasts.
Bloomberg also cited low and stable inflation, rising inflation-adjusted wages, a strong property market, and some of the world’s lowest bond yields as signs of improving economic conditions. These trends have added to Taiwan’s broader economic growth.
The expansion has increased Taiwan’s importance to the US and the global technology industry. It has also raised the potential economic cost of any disruption to Taiwan’s semiconductor production.
