AI boom drives Taiwan's exports to record US$61.8 billion in October: MOF

Taipei, Nov. 7 (CNA) Taiwan's exports in October surged 49.7 percent year-on-year to US$61.8 billion, a record monthly high, driven by strong global demand for artificial intelligence technologies (AI), the Ministry of Finance (MOF) said Friday.

MOF data showed exports totaled US$61.8 billion, topping US$60 billion for the first time, while also marking the 24th consecutive month of growth and the largest monthly increase in nearly 15 and a half years.

Imports in October totaled US$39.22 billion, the highest for the month on record, up 14.6 percent year-on-year, according to the data.

The strong export performance pushed Taiwan's trade surplus to US$22.58 billion in October, also a record monthly high, Beatrice Tsai (蔡美娜), director-general of the ministry's Department of Statistics, said.

Tsai credited the export surge to strong global demand despite U.S. tariffs, the high demand for AI and high-performance computing products, the rollout of new consumer electronics and the seasonal peak for technology product exports.

However, Tsai cautioned that some industries, including metals and metal products and plastics and rubber products, still face overcapacity pressure and weak demand, leading to a decline in exports in October.

In terms of export destinations, Taiwan's shipments to the United States in October surged to US$21.14 billion, a 1.4-fold year-on-year increase, with the U.S. accounting for 34.2 percent of total exports, 11 percentage points ahead of the second-largest market, China and Hong Kong.

Tsai said growth in the U.S. market was mainly driven by a surge in shipments of new graphics cards, noting that the U.S.' 34.2 percent share of Taiwan's total exports in October represented the highest monthly level since August 1990.

On the import side, the increase in imports mainly reflected robust global AI supply chain activity and domestic restocking for export demand, Tsai said.

Cumulative exports for the first 10 months of 2025 reached US$514.45 billion, up 31.8 percent from the same period a year earlier. Tsai said full-year exports are projected to surpass US$600 billion.