TAIPEI, Oct 20 (Reuters) - Taiwan export orders rose more than expected in September to $114.21 billion, rising further above the $100 billion mark reached for the first time in August, buoyed by worldwide demand for the island's AI chips and technology.
Export orders jumped 62.4% from a year earlier, the Ministry of Economic Affairs said on Tuesday. That was the second straight time it topped the $100 billion mark for a single month after it hit $103 billion in August.
The latest result beat analysts' expectations for a gain of 58.7% and also marked its 20th straight monthly gain.
Here are some details from the economy ministry's statement released on Tuesday:
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The solid gain in September was credited to strong demand for AI, high-performance computing and cloud services applications.
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For October, the ministry said it expected export orders to rise by between 62.0% and 67.0% from a year earlier, while full-year export orders could reach $1.1 trillion.
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Looking forward, uncertainties including geopolitical risks and trade policies would continue to weigh on global economic growth. But stable growth momentum for orders would be supported by Taiwan's core position in the semiconductors and server supply chain.
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Orders for goods from Taiwan, home of the world's largest contract chipmaker TSMC and other tech companies, are considered a bellwether of global technology demand.
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Taiwan's orders in September for telecoms products were up 87.3% from a year earlier, while those for electronic products jumped 71.0%.
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Overall orders from China rose 48.5% versus a 47.7% expansion in August.
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Orders from the US jumped 79.4%, compared with a 88.9% clip the previous month. Orders from Europe were up 68.0% and those from Japan rose 35.5%.
Reporting by Faith Hung and Jeanny Kao; Editing by Andrew Heavens and Jacqueline Wong
Source: Reuters