Taipei: Taiwan's exports in October surged 49.7 percent year-on-year to US$61.8 billion, a record monthly high, driven by strong global demand for artificial intelligence technologies (AI), the Ministry of Finance (MOF) said Friday. MOF data showed exports topped US$60 billion for the first time, marking the 24th consecutive month of growth and the largest year-on-year increase in nearly 15 and a half years.
According to Focus Taiwan, imports in October totaled US$39.22 billion, the highest for the month on record, up 14.6 percent year-on-year. The robust export performance boosted Taiwan's trade surplus to US$22.58 billion in October, another record monthly high, as stated by Beatrice Tsai, director-general of the ministry's Department of Statistics.
Tsai attributed the export surge to strong global demand despite U.S. tariffs, high demand for AI and high-performance computing products, the rollout of new consumer electronics, and the seasonal peak for technology product exports. However, she cautioned that some industries, including metals and metal products and plastics and rubber products, still face overcapacity pressure and weak demand, leading to a decline in exports in October.
In terms of export destinations, Taiwan's shipments to the United States in October surged to US$21.14 billion, a 1.4-fold year-on-year increase. The U.S. accounted for 34.2 percent of total exports, 11 percentage points ahead of the second-largest market, China and Hong Kong. Tsai noted that growth in the U.S. market was mainly driven by a surge in shipments of new graphics cards, with the U.S.' share of Taiwan's total exports in October representing the highest monthly level since August 1990.
On the import side, the increase mainly reflected robust global AI supply chain activity and domestic restocking for export demand, Tsai added. Cumulative exports for the first 10 months of 2025 reached US$514.45 billion, up 31.8 percent from the same period a year earlier. Tsai projected that full-year exports are expected to surpass US$600 billion.