Taiwan's February export orders beat expectations: MOEA

Taipei, March 20 (CNA) Taiwan's export orders in February totaled US$63.88 billion, up 23.8 percent year-on-year, beating expectations amid surging demand for electronic and information and communications technology (ICT) products, an official said Friday.

Stronger-than-expected demand for semiconductors, memory chips and servers was the main driver of growth in orders, Huang Wei-jie (黃偉傑), head of the Ministry of Economic Affairs' (MOEA) Department of Statistics, told reporters.

The MOEA had projected February export orders of between US$56.3 billion and US$58.3 billion, representing a 9.0 percent to 12.9 percent year-on-year increase, factoring in the timing of the Lunar New Year holiday and geopolitical risks, Huang added.

ICT products accounted for US$47.87 billion of total export orders in January and February, a record high, up 76.8 percent year-on-year, while electronic products totaled US$58.84 billion, also a record, up 50.7 percent, the MOEA said.

Meanwhile, orders for optical instruments in the first two months of the year totaled US$3.38 billion, up 2.1 percent year-on-year, the data showed.

Among traditional industries, machinery orders increased 20.6 percent in the first two months and basic metals rose 0.7 percent on steady demand for copper foil and copper-clad laminate -- used in the manufacture of semiconductors, according to the MOEA.

Orders for chemicals, and plastic/rubber products remained weak due to sluggish market conditions, falling 7.0 percent and 4.4 percent year-on-year, respectively, it said.

Looking ahead, the Department of Statistics projected March export orders will rise about 38.4 percent to 42.0 percent year-on-year, with first-quarter orders totaling US$216.8 billion to US$218.8 billion, up 40.3 percent to 41.5 percent from a year earlier.

Huang said that the ongoing Middle East conflicts and U.S. tariff uncertainties are expected to have mainly short-term effects on prices, while Taiwan's strong position in AI-related semiconductor and server supply chains should ensure continued growth amid rising global AI infrastructure investment.