Export orders in July rose 61.9% from a year earlier to $97.94 billion, the Ministry of Economic Affairs said on Thursday. That beat analysts' expectations for a gain of 54.6%, hitting its fastest pace since 65.9% growth in March and the 18th straight monthly gain. In June, export orders jumped 59.4%.
Orders for goods from Taiwan, home of the world's largest contract chipmaker TSMC and other tech companies, are considered a bellwether of global technology demand.
The solid gain in July came because of rapid demand increase for AI, high-performance computing and cloud services applications.
For August, the ministry said it expected export orders to rise by between 61.4% and 61.8% from a year earlier.
Outlook and regional order trends
Uncertainties including geopolitical risks and global trade policies would continue to weigh on global economic growth. But stable growth momentum for orders would be supported by Taiwan's core position in the semiconductors' advanced process technologies and server supply chain.
Taiwan's orders in July for telecoms products were up 89.5% from a year earlier, while those for electronic products jumped .
Overall orders from China rose 47.2%, compared with a 37.2% expansion in June.
Orders from the U.S. surged 88.9% after a rise of 83.6% in the previous month. Orders from Europe were up 33.1% and those from Japan rose 37.1%.
July export orders accelerate on AI demand
Taiwan's export orders rose more than expected and at their fastest clip in four months in July, affirming the island's central role in the AI chip supply chain.
Here are some details from the economy ministry's statement released on Thursday:
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