Taipei [Taiwan], November 8 (ANI): Taiwan's exports in October surged 49.7 per cent year-on-year to USD 61.8 billion, a record monthly high, driven by strong global demand for artificial intelligence technologies (AI), according to Focus Taiwan.

The Ministry of Finance (MOF) data, according to a Focus Taiwan report, showed exports totaled USD 61.8 billion, topping USD 60 billion for the first time, while also marking the 24th consecutive month of growth and the largest year-on-year increase in nearly 15 and a half years.

Imports in October totaled USD 39.22 billion, the highest for the month on record, up 14.6 percent year-on-year, according to the data.

The strong export performance pushed Taiwan's trade surplus to USD 22.58 billion in October, also a record monthly high, Beatrice Tsai, director-general of the ministry's Department of Statistics, said, Focus Taiwan report.

Tsai credited the export surge to strong global demand despite US tariffs, the high demand for AI and high-performance computing products, the rollout of new consumer electronics and the seasonal peak for technology product exports.

However, Tsai cautioned that some industries, including metals and metal products and plastics and rubber products, still face overcapacity pressure and weak demand, leading to a decline in exports in October.

In terms of export destinations, Taiwan's shipments to the United States in October surged to USD 21.14 billion, a 1.4-fold year-on-year increase, with the US accounting for 34.2 percent of total exports, 11 percentage points ahead of the second-largest market, China and Hong Kong.

Tsai said growth in the US market was mainly driven by a surge in shipments of new graphics cards, noting that the US' 34.2 per cent share of Taiwan's total exports in October represented the highest monthly level since August 1990.

On the import side, the increase in imports mainly reflected robust global AI supply chain activity and domestic restocking for export demand, Tsai said, as per the news report.

Cumulative exports for the first 10 months of 2025 reached USD 514.45 billion, up 31.8 percent from the same period a year earlier. Tsai said full-year exports are projected to surpass USD 600 billion. (ANI)