The strong demand for products involving artificial intelligence (AI) drove Taiwan's exports last month to the highest level ever recorded in the month of October, extending a 12-month growing streak, the Ministry of Finance reported yesterday.
Exports grew 8.4 percent from a year earlier to hit US$41.3 billion last month, while imports rose 6.5 percent to US$34.43 billion, with a trade surplus of US$6.87 billion in the month, the ministry said in a statement.
During the first 10 months of this year, exports totaled US$390.42 billion, a 10 percent increase from the same period last year. It was also the second-highest export value seen during the January-October period, the statement said.
Photo: CNA
Exports last month were helped by a stable global economy, a strong demand for AI applications and high-performance computing devices, as well as new tech products hitting the market and the beginning of peak season for exporters, Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.
Six of the 11 key categories of exported goods posted a gain last month, but five saw a decline, Tsai said.
Information, communications and audio-video products jumped 28 percent to US$11.53 billion, the largest percentage gain among the 11 categories of exports.
Those products made up 27.9 percent of the total exports last month, the ministry said.
Parts of electronic products gained 6.1 percent from a year earlier to US$16.6 billion, which accounted for 40.2 percent of the total goods shipped overseas, data showed.
However, exports of minerals, which amounted to US$926 million, represented a 27.8 percent plunge year-on-year, caused by the lower global oil prices, Tsai said.
Among Taiwan's main trading partners, China and Hong Kong remained the top export destination last month with US$13.87 billion worth of goods, or 33.6 percent of Taiwan's total exports, while the US came in second with US$8.65 billion worth of goods, or 21 percent of the total, followed by Southeast Asian countries at US$7.68 billion, or 18.6 percent share, Europe at US$3.23 billion, or 7.8 percent share, Japan at US$2.05 billion, or 5 percent share, and South Korea at US$1.89 billion, or 4.6 percent share, ministry data showed.
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