Taiwan June exports tops forecasts on AI demand

Taiwan’s exports in June defied expectations, surging more than anticipated. This growth is attributed to Taiwan’s role as a critical link in the booming artificial intelligence (AI) supply chain, but also reflects a rebound from a previous period of low exports.

Reuters:
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Exports rose 23.5% from a year earlier to $39.9 billion, the finance ministry said on Tuesday.

Taiwan’s export recovery continued with its eighth consecutive monthly rise, and exceeded the 11.45% forecast in a Reuters poll, while beating a 3.5% gain in May.

The robust performance was thanks to “strong business opportunities in new technology applications” such as AI and high performance computing, the ministry said in a statement.

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.

Taiwanese firms such as TSMC, the world’s largest contract chipmaker, are major suppliers to Apple, Nvidia, and other tech giants.

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