First Half Exports to Top 5 Markets Hit Record Highs, U.S. Up 69% Annually

(CNA, Taipei, July 9) The Ministry of Finance announced its latest import and export statistics today, revealing that export values to the top five markets all set new records for the same period in the first half of the year. Exports to the United States saw the best performance with a 69% year-on-year increase. Furthermore, the trade surplus with the U.S. in the first half reached $104 billion, also a record high for the period.

The Ministry of Finance released preliminary statistics for June customs trade today, showing exports of $74.83 billion and imports of $62.63 billion in June. These figures represent the third-highest monthly export and the highest monthly import on record, with year-on-year growth rates of 40.3% and 51.8%, respectively.

Observing the performance of the top five markets, Tsai Mei-na, director of the Statistics Department of the Ministry of Finance, analyzed that June saw a synchronized upward trend, with export values to Japan, the United States, and Europe ranking among the top three monthly figures in history.

Tsai Mei-na mentioned that export volumes to the top five markets in the first half of the year all set records for the same period. Notably, year-on-year growth rates to the United States, Europe, and ASEAN regions reached 69%, 55.7%, and 55.4%, respectively, representing the strongest growth rates for the same period in history.

She explained that Taiwan's trade surplus with the United States reached $104 billion in the first half, a new record for the period, making it the largest source of surplus. Graphics cards and servers contributed $51 billion and $39.4 billion, respectively. South Korea was the largest deficit country, with a deficit of $30.5 billion, reflecting Taiwan's high reliance on memory manufactured in South Korea.

Further examination shows that exports to the United States in June were $23.28 billion, the third-highest monthly figure in history, with a year-on-year increase of 34.8%. This marks the 35th consecutive month of positive growth. Tsai Mei-na observed that export categories to the U.S. are increasingly concentrated in information and communication technology (ICT) and audiovisual products. In the first six months, their share reached 81%, an increase of 32 percentage points compared to 49% when the artificial intelligence (AI) trend began to emerge in 2023, driving the significant expansion of the trade surplus with the U.S.

Tsai Mei-na stated that, also benefiting from demand for ICT and audiovisual products, exports to Europe in June were $5.07 billion, the third-highest monthly figure in history, with a year-on-year increase of 48.4%. Exports to Japan in June were $3.32 billion, a new monthly high, with a year-on-year increase of 17.7%. This was driven not only by electronic components and ICT and audiovisual products but also by the recovery of mineral product shipments from a low point.

Exports to China and Hong Kong in June were $17.77 billion, a new record for the same month in history, with a year-on-year increase of 22.2%. Exports to ASEAN in June were $13.23 billion, also a new record for the same month in history, with a year-on-year increase of 47.1%.

In addition, Tsai Mei-na added that observing the performance of individual countries with export values exceeding $300 million, the top three countries with the largest growth rates in June were France, Mexico, and Ireland, with year-on-year increases of 6 times, 2.8 times, and 1.4 times, respectively. (Editor: Chang Chun-mao) 1150709

Stand with facts, your every donation is a force to protect press freedom

Download the CNA "First News" APP to get the latest information in real-time

The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or used without authorization.