Maroc - TAIWANTODAY.TW - Top News - 01/Mar 00:00

Taiwan reports high foreign trade in February

The Ministry of Finance reported exports of US$49.8 billion and imports of US$37 billion in February, surging year-on-year by 20.6 percent and 6.8 percent, respectively, to create a monthly trade surplus of US$12.77 billion.   According to the MOF, the export numbers are a new record for February and marked the 28th straight month of year-on-year increases. The ministry attributed the growth to robust global demand for artificial intelligence applications, high performance computing and cloud services.   Information communications technology and audiovisual, electronics components and parts, and machinery were the top three export items, the MOF said, adding that they amounted to US$19.51 billion, US$17.98 and US$ 1.9 billion, respectively. The U.S., China and Hong Kong, and members of the Association of Southeast Asian Nations remained the top three destinations for Taiwan’s exports, the ministry noted.   Imports also saw an increase due to the division of the global AI supply chain and increasing derived demand for exports, the MOF said, adding that in February agricultural and industrial raw materials generated US$25.27 billion in imports, while capital equipment was responsible for US$ 7.93 billion.   The MOF anticipates Taiwan’s exports will continue to grow on the strength of increasing domestic advanced semiconductor manufacturing and high-end packaging capacities. Rising international demand for its semiconductor and information and communications products is expected to continue as major cloud service suppliers step up investment spending in AI and many countries promote sovereign AI development and computing infrastructure construction.   The ministry remains optimistic about first quarter prospects even as it noted intentions to continue to pay close attention to U.S. trade policy and geopolitical risks. (YCH-E)   Write to Taiwan Today at ttonline@mofa.gov.tw