Export Statistics: First-Half Trade Surplus with U.S. Exceeds $100 Billion! Ministry of Finance Forecasts 33rd Consecutive Monthly Export Increase in July

Cai Meina, Director of the Ministry of Finance's Statistics Division, announced today (9th) the import and export statistics for June 2025. Exports in June marked the 32nd consecutive month of year-on-year growth. Exports to Japan reached $3.22 billion, setting a new single-month record. For the first half of the year, the trade surplus with the U.S. reached $104 billion—exceeding Taiwan’s total trade surplus of $97.4 billion—and became the largest source of surplus. Looking ahead, Cai indicated that based on historical seasonal trends, July exports are projected to range between $76 billion and $78 billion, with year-on-year growth of 34% to 39%. With several favorable factors, Taiwan is likely to achieve its 33rd consecutive month of export growth and potentially reach the second-highest monthly export level on record.

Four Key Drivers Behind Strong Exports: AI Boom and Pricing Effects

Cai stated that June's strong export momentum was driven by four major factors:

- **Global economic resilience**: Despite geopolitical tensions in the Middle East, the global economy remains on a growth trajectory, supporting baseline demand. - **AI-driven demand**: The expansion of artificial intelligence applications has boosted demand for high-end chips, servers, and key components. - **New tech product inventory buildup**: Procurement for new technology products, such as smartphones and other devices, has ramped up, lifting export performance. - **Supply-demand tightness driving price hikes**: The electronics supply chain is experiencing tight supply and demand, leading to upward adjustments in export prices. Cai noted that cumulative price increases in the first half of 2025 were the highest in 47 years, significantly boosting export values.

Tech Products Remain Strong; Traditional Industries Recover

By product category, technology goods remain the export engine. ICT and audiovisual products exported $33.92 billion in June—the third-highest monthly figure on record—up 72.3% year-on-year. Electronic components reached $25.39 billion, the second-highest monthly level ever, up 32.8% year-on-year. Combined, these two sectors grew by 52.9%.

Encouragingly, traditional industries also showed improvement. Cai reported that traditional goods grew an average of 6.09% in June, marking four consecutive months of positive growth. Electrical machinery benefited from global data center construction and grid upgrades, rising 23.0% year-on-year. Mineral products rose 20.0% due to higher oil prices. Machinery products increased 14.8% as international semiconductor firms expanded production capacity.

First-Half Performance Hits Record High; U.S. Surplus Reaches Historic Levels

Overall, Taiwan’s total exports in the first half of 2025 set a new record for the period, with a 47.1% year-on-year increase—the fourth-highest growth rate for any first half on record. Cai emphasized that exports to the U.S., Europe, and ASEAN all posted the strongest growth rates for the period. Notably, due to strategic positioning in the AI sector, the first-half surplus with the U.S. reached $104 billion, exceeding Taiwan’s total trade surplus and becoming its largest surplus source.

Cai concluded by highlighting that compared to other major economies, Taiwan has now achieved 32 consecutive months of export growth—outperforming Singapore, South Korea, the U.S., and mainland China—demonstrating the technological edge and strong momentum of Taiwan’s tech industry amid the global AI wave.