TAIPEI (Taiwan News) — Exports rose 32.9% year-on-year to NT$2.43 trillion (US$75.3 billion) in July, marking the 33rd straight month of growth and the third-highest monthly total on record, the Ministry of Finance said Friday.
The ministry attributed the increase to strong demand for AI and high-performance computing applications, as well as higher export prices, per Liberty Times. It forecast August exports of NT$2.48 trillion to NT$2.55 trillion, up 31% to 35% from a year earlier, and said annual exports remain on track to exceed NT$27.5 trillion.
Exports during the first seven months of the year reached a record NT$15.9 trillion, up 44.7% from a year earlier, per CNA. Imports rose 37.4% year-on-year to NT$1.88 trillion in July, lifting January-July imports to a record NT$12.2 trillion. Taiwan posted a trade surplus of NT$555 billion for the month.
Electronic components led export growth in July, rising 50.5% to a record monthly high on AI demand. Mineral products increased 52.1%, while exports of electrical machinery and information and communications products climbed 34.3% and 29.5%.
Electronic components and information and communications products accounted for nearly 80% of total exports in the first seven months.
Exports to all major markets posted double-digit gains in July, per Anue. Shipments to Europe rose 57.6%, followed by Japan at 41.4%, while exports to China increased 33.4% to a record monthly high. Exports to the US and ASEAN grew 25.2% and 16.8%.
The ministry said geopolitical risks and shifting global trade policies continue to pose uncertainties. However, it expects growing AI adoption, cloud infrastructure investment, and expanded advanced chip production in Taiwan to support export growth through the second half of the year.
