Taiwan's March export orders hit record high on AI demand

Taipei, April 21 (CNA) Taiwan's export orders rose to a record high in March, driven by strong global demand for artificial intelligence (AI) applications, the Ministry of Economic Affairs (MOEA) said Tuesday.

Export orders totaled US$91.12 billion, up 65.9 percent from a year earlier, marking the 14th consecutive month of annual growth, according to the ministry.

In the first quarter, orders reached US$231.91 billion, also a record for the period and up 50 percent year-on-year.

The ministry said growth was largely fueled by robust demand for AI-related products, including semiconductors, servers and memory chips.

Orders for information and communications technology products surged 120.9 percent year-on-year in March, while orders for electronic products rose 73.7 percent, both driven by AI-driven demand.

MOEA Department of Statistics Director Huang Wei-jie (黃偉傑) said the March figures exceeded expectations, with both high-tech and traditional sectors posting gains.

Despite ongoing Middle East tensions and rising energy prices, Taiwan's export performance has remained resilient due to its key role in the global AI supply chain, Huang said.

"AI has acted as a buffer," he said, adding that continued global investment in AI is expected to support export momentum this year.

Looking ahead, the MOEA forecast April export orders will be between US$87 billion and US$89 billion, representing annual growth of 47.3 percent to 50.7 percent.