Taiwan June exports tops forecasts on AI demand, US market soars

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TAIPEI: Taiwan's exports rose more than expected in June, with the island benefiting from its position as a key link in the supply chain of the booming artificial intelligence (AI) industry though also coming off from a low base period. Exports rose 23.5 per cent from a year earlier to US$39.

TAIPEI: Taiwan's exports rose more than expected in June, with the island benefiting from its position as a key link in the supply chain of the booming artificial intelligence industry though also coming off from a low base period.

Taiwan's export recovery continued with its eighth consecutive monthly rise, and exceeded the 11.45 per cent forecast in a Reuters poll, while beating a 3.5 per cent gain in May. The second half of the year should see a continued uptrend in export momentum as exports enter their peak season, owing to the island's advanced chip production capacity, it added.

The ministry predicted that Taiwan's exports in July could rise between 3 per cent and 6 per cent from a year earlier.Shipments to China - Taiwan's largest trading partner - improved, up 7.3 per cent in June on-year versus the previous month's 5.3 per cent drop.

 

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