Taiwan’s exports posted their fastest growth in almost 16 years in October, fueled by surging global demand for chips and artificial intelligence technology, easily offsetting the impact of U.S. tariffs on Taiwanese goods.
Data from Taiwan’s finance ministry released Friday showed exports soared 49.7% year-on-year to a record $61.8 billion—far exceeding the 31.6% rise anticipated by economists in a Reuters poll and marking the strongest growth since May 2010. It also marked an uninterrupted 24th consecutive month of annual export gains.
Despite a 20% U.S. tariff on most Taiwanese exports except semiconductors, which Taipei is actively seeking to reduce, Taiwan’s high-tech industry continues to outperform. Exports to the United States in October skyrocketed 144.3% from a year earlier to $21.135 billion, while exports to China increased 3.2%.
In a statement, the finance ministry credited momentum in AI and high-performance computing applications, combined with the year-end shopping season in Western markets, for the robust performance.
Semiconductor exports alone rose 29.2% to $21.16 billion last month, with overall exports of electronic components up 27.7%. Key suppliers such as TSMC continue to deliver critical hardware to global tech giants including Nvidia and Apple.
Imports, however, grew at a slower pace of 14.6% to $32.22 billion, missing economists’ projections for a 25.3% increase.
Looking ahead, the ministry sees exports rising between 35% and 40% year-on-year in November. For the full year 2025, Taiwan’s exports are forecast to rise 30% to $600 billion. However, officials cautioned that the global economic outlook remains clouded by evolving U.S. tariff policies and persistent geopolitical risks, calling for ongoing vigilance.
