Taiwan’s exports rose significantly more than expected in March, driven by sustained demand for AI applications and other technology products, according to data released by the finance ministry on Friday.
Exports increased 61.8% year-on-year to $80.18 billion, marking the first time the figure has exceeded the $80 billion threshold.
The sharp rise compares with a 20.6% increase recorded in February and surpasses market expectations of a 33.2% gain, based on a Reuters poll.
The latest figures also extend Taiwan’s streak of year-on-year export growth to 29 consecutive months.
Strong demand for AI and cloud supports growth.
The finance ministry attributed the robust performance to continued strength in AI and cloud-related business demand.
This segment has been a key driver of Taiwan’s export momentum, particularly as global technology companies ramp up investments in advanced computing infrastructure.
Taiwanese firms, including TSMC, play a central role in the global semiconductor supply chain.
TSMC, the world’s largest manufacturer of advanced chips used in AI applications, supplies major technology companies such as Nvidia and Apple.
Sectoral and regional performance
Detailed data showed broad-based growth across product categories. Exports of electronic components rose 44.0% year-on-year to $25.243 billion, while information and communication products recorded a sharp increase of 134.5%.
Regionally, exports to the United States surged 124% from a year earlier to $28.542 billion, highlighting strong demand from one of Taiwan’s key markets.
Shipments to China also posted solid growth, rising 27.4% over the same period.
Imports also beat forecasts
Imports in March climbed 38.3% year-on-year to $58.91 billion, significantly exceeding economists’ expectations of an 18.1% increase.
The rise in imports reflects strong domestic demand and increased procurement of materials and components to support export production.
Outlook remains positive, but risks persist
The finance ministry said export momentum is expected to remain strong, forecasting double-digit growth in the first half of the year.
For April, exports are projected to rise between 44% and 51% compared to a year earlier.
However, the ministry cautioned that external risks could impact the outlook.
Uncertainty surrounding US trade policy and ongoing geopolitical tensions in the Middle East were highlighted as factors that should be closely monitored.
Cross-strait developments draw attention
Recently, Chinese President Xi Jinping met with Kuomintang party chair Cheng Li-wun in Beijing on Friday, marking the first meeting between a Chinese leader and a sitting Taiwanese opposition figure in nearly a decade.
According to a readout released by Chinese state media, Xi stated that Beijing “welcomes any proposals conducive to the peaceful development of cross-strait relations,” as per a CNBC translation of the Chinese statement.
He also reiterated that “‘Taiwan independence’ is the primary threat undermining stability across the Taiwan Strait,” urging political leaders on both sides to oppose “separatism and foreign interference.”
Despite these geopolitical considerations, Taiwan’s export performance continues to benefit from its strategic position in the global technology supply chain, particularly as demand for AI-driven products remains robust.
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