Strong demand for AI chips boosts Taiwan’s exports

The demand for AI chips helped Taiwan’s export orders exceed expectations in July, reaching $50.03 billion.
Taiwan's export orders jumped 4.8% in July, driven by rising demand for AI chips and technology products.

Taiwan experienced a robust increase in export orders in July, with a 4.8% rise to $50.03 billion, surpassing expectations. The surge was primarily driven by the growing demand for chips used in AI and other advanced technology products. The Ministry of Economic Affairs noted that high-speed computing and preparations for new consumer electronics were significant factors behind the growth.

Orders from the United States saw a notable increase, jumping 14.3% in July compared to a 3.7% rise in June. In contrast, orders from China remained flat, showing a slight decrease of 0.1% after a 3.5% gain in the previous month. The mixed performance highlights the varying demand for Taiwanese products across different regions.

The Ministry also reported growth in orders from other regions, including a 6.1% rise from Europe and a 2.4% increase from Japan. These figures suggest that technology sector of Taiwan remains resilient amid global economic uncertainties, with strong demand for its products across multiple markets.

Looking ahead, the Taiwanese government is optimistic about sustaining this momentum. Officials predict that export orders will continue to grow, with an expected increase ranging from 6.7% to 11.0% in August.