Taiwan's October exports surge again on strong AI demand
SPY•Taiwan's exports rose 58.9% year over year to a record $96.76 billion in October, beating forecasts for 50% growth. The finance ministry expects November exports to rise 47% to 51% year over year.
1. Exports hit another record
Taiwan's exports reached a record monthly level for the third straight month in October, rising 58.9% year over year to $96.76 billion. The increase followed September's $87.22 billion and marked 36 consecutive months of annual growth.
2. Technology shipments rise
Exports to the United States climbed 55.9% to $32.93 billion, while exports to China rose 42.9%. Electronic components exports increased 61.4% to a monthly record $32.68 billion, as AI applications, high-performance computing and cloud services continued to grow.
3. November outlook
Imports rose 75.1% to $68.89 billion, above economists' forecasts for a 54.5% increase. The ministry expects export growth to continue into the fourth quarter, supported by holiday shopping and demand for chips used in AI infrastructure, and forecasts November exports will rise 47% to 51% year over year.
