The Ministry of Finance released its September export statistics on September 9th. Benefiting from the continued wave of applications of emerging technologies such as artificial intelligence and the strong demand for new consumer electronics products, September exports reached US$54.25 billion, the third highest monthly figure ever, representing a 33.8% year-on-year increase and marking the 23rd consecutive month of positive growth.

Among the major exported goods in September, electronic components and information and communication (ICT) and audiovisual products saw year-on-year growth of 25.6% and 86.9%, respectively. Electronic components exports hit a new monthly high, returning to being the largest export category. Electrical machinery products saw a 17.2% increase, driven by demand for power supply devices boosted by AI opportunities. Textiles and plastics and rubber products, however, declined by 8.6% and 7.1%, respectively, due to poor market conditions and overseas overcapacity. Cumulative exports of electronic components, ICT, and audiovisual products for the first nine months increased by 45.3% year-on-year, accounting for 72.4% of total exports, while other categories increased by only 1.2%.

September saw a comprehensive increase in exports to major markets, with the largest increase in sales to the United States, reaching a year-on-year growth rate of 51.6%. Exports to ASEAN increased by 34.0%, to Europe and Japan by 27.3% and 23.3% respectively, and to mainland China and Hong Kong by 12.8%. Furthermore, driven by ICT products, exports to Mexico surged 3.7 times, setting a new monthly record. Cumulative exports from January to September to the United States, ASEAN, Japan, and mainland China and Hong Kong all showed double-digit growth, increasing by 54.9%, 37.7%, 14.5%, and 14.3% year-on-year respectively, with only exports to Europe declining by 3.3% year-on-year.

Looking ahead, the accelerated expansion of AI applications is driving continued strong demand for related hardware and components. The launch of new technology products and the approaching year-end purchasing season in mainland China and Europe and the United States are also expected to maintain Taiwan's export growth momentum. However, the development of US tariff policies continues to pose challenges to the production and investment layout of the global supply chain, and with unresolved international geopolitical risks, close monitoring of future developments is necessary.

News Source: Economic Daily