Taiwan's exports could top US$850 billion in 2026: MOF

Taipei, Aug. 8 (CNA) Amid optimism over long-term AI development, the Ministry of Finance (MOF) has forecast that the current momentum seen in Taiwan's exports will continue into the second half of this year, with the total value expected to surpass US$850 billion in 2026.

On Friday, the ministry released July trade data showing Taiwan's outbound sales rose 32.9 percent from a year earlier to US$75.30 billion, the 33rd consecutive month of year-on-year growth. The July exports were the third-highest ever, trailing US$80.18 billion in March and US$78.48 billion in May.

In the first seven months of this year, the country's exports rose 44.7 percent from a year earlier to US$491.95 billion.

MOF Department of Statistics Director Beatrice Tsai (蔡美娜) told reporters that despite worries over an AI bubble, which had spooked global stock markets, Taiwanese suppliers stayed upbeat about their business outlook, with contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) raising sales growth guidance and upgrading its capital expenditure budget for 2026 to meet robust AI demand.

AI will continue to create tremendous business opportunities for suppliers in Taiwan, and the long-term uptrend remains unchanged, Tsai said.

In addition, Taiwan has entered the traditional peak export season and is expected to see momentum grow further in the second half of this year, Tsai added.

It is not out of the question that Taiwan's exports could surpass US$850 billion this year, she noted, smashing the 2025 record of US$640.75 billion, which itself was 34.9 percent higher than in 2024.

Taiwan's exports to the five major markets -- the United States, China and Hong Kong, the ASEAN bloc, Europe and Japan -- posted double-digit growth in July, while Washington purchased US$23.34 billion worth of Taiwan-made goods to remain the nation's largest buyer, Tsai said.

China and Hong Kong came in second after purchasing US$19.17 billion in goods from Taiwan, a new monthly high. Since the beginning of this year, exports to China and Hong Kong have also maintained mid-to-high growth, she added.

Exports to the ASEAN bloc rose 16.8 percent from a year earlier to US$13.58 billion in July on strong demand for electronic components, while exports to Europe totaled US$5.06 billion in July, soaring 57.6 percent year-on-year.

In July, exports to Japan surged 41.4 percent from a year earlier to US$3.27 billion, the second-highest level in history, also on the back of AI development, Tsai said, adding that she is upbeat about Taiwan's exports to the five markets and expects new record highs in 2026.