Taiwan’s electronics industry is experiencing a significant resurgence, with exports hitting $41.82 billion in March – the highest figure in 19 months. This impressive 18.9% year-on-year increase signals a decisive rebound, fueled primarily by explosive demand for artificial intelligence (AI) products. The non-tech sector is also displaying renewed strength.
The boom in information and communications technology (ICT) products is particularly striking, with shipments more than doubling and now accounting for over 30% of Taiwan’s total exports. This growth aligns with the US tech industry’s accelerated development of AI tools and services. The US remains Taiwan’s second-largest trading partner, indicating a significant growth trajectory for this sector.
Mirroring US policy, exports to China have slightly decreased as Taiwanese firms support bans on advanced technology sales. “Taiwanese firms rally behind US bans on sales of advanced technology products to China,” explains Beatrice Tsai, Director-General at the Department of Statistics.
In a sign of wider globalisation trends, exports to ASEAN nations have surged by a remarkable 47.1%. This showcases the bloc’s success in capitalising on the ongoing reconfiguration of the global electronics supply chain.
Importantly, this revival extends beyond cutting-edge technology. Exports of base metal, chemical, mineral, and textile products are all showing growth, demonstrating a recovery from the slowdown caused by global economic headwinds. “The recovery will grow stronger and more broad-based,” Tsai predicts.
Despite some hesitancy from tech firms due to high-interest rates and geopolitical complexities, the strong export figures bode well for Taiwan’s electronics industry. The future looks bright, with a potential for continued growth and expansion throughout the rest of the year.
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