TAIPEI, Nov 9 (Reuters) - Taiwan's exports rose more than expected to a record monthly level for a third straight month in October, boosted by demand for the island's AI chips and technology.
Here are some details from the finance ministry statement released on Monday.
• Exports last month jumped 58.9% from a year earlier to $96.76 billion, topping analysts' forecasts for a 50% rise and following September's $87.22 billion. The gain was broadly in line with September's 60.9% hike and marked the 36th straight month of annual growth.
• Exports to the US surged 55.9% in October from a year earlier to $32.93 billion, while those to China jumped 42.9%.
• Exports of electronic components rose 61.4% to $32.68 billion, a new monthly high.
• Imports rose sharply by 75.1% to $68.89 billion, above economists' forecasts for an increase of 54.5%.
• AI applications, high-performance computing and cloud services continued to grow.
• Export growth is expected to extend into the fourth quarter thanks to the end-of-year holiday shopping season and chip demand for AI infrastructure. For November, the ministry expects exports to rise 47% to 51% from a year earlier.
• Taiwanese companies including TSMC, the world's largest maker of advanced chips used to power AI applications, are major suppliers to Nvidia, Apple and other leading tech companies.
Reporting by Ben Blanchard and Liang-sa Loh; Editing by Christopher Cushing and Shri Navaratnam
Source: Reuters