Taipei: Taiwan's exports surged almost 70 percent from a year earlier to hit a new high in January, marking the 27th consecutive month of year-on-year increases during the current AI era, the Ministry of Finance (MOF) said Monday.

According to Focus Taiwan, data compiled by the MOF showed the country's exports rose 69.9 percent from a year earlier to US$65.77 billion in January. Imports also grew 63.6 percent, reaching the second-highest monthly level of US$46.87 billion, resulting in a trade surplus of US$18.89 billion, up 87.7 percent.

Beatrice Tsai, director-general of the MOF's Department of Statistics, stated that emerging technologies such as AI applications, high-performance computing devices, and cloud services continued to boost Taiwan's outbound sales in January. Tsai highlighted that the robust growth was also due to a relatively low comparison base from the previous year when the Lunar New Year holiday led to fewer working days.

Tech gadgets remained the dominant force in Taiwan's exports, with the information/information and audio/video industry reporting US$28.71 billion in outbound sales in January, up 129.8 percent year-on-year, marking the 31st consecutive month of growth. The electronic components industry also experienced significant growth, generating US$22.36 billion in exports, with integrated circuit suppliers accounting for US$21.04 billion in sales, both showing substantial year-on-year increases.

Traditional industries also reported growth, as machinery and electrical machinery manufacturers benefited from AI developments. Exports in these sectors reached US$2.42 billion and US$1.42 billion, respectively, showing increases from the previous year. The base metal industry posted US$2.55 billion in exports, and the mineral product industry saw exports rise to US$1.12 billion.

Despite the overall growth, Tsai noted that the strength was uneven across industries, with the plastics and rubber industry recovering at a slower pace after accounting for seasonal factors.

By country, the United States emerged as the largest buyer of Taiwan's products, with purchases reaching US$21.28 billion in January, up 151.8 percent from the previous year. China and Hong Kong followed, posting US$16.03 billion in exports, and the ASEAN bloc's purchases hit a new high of US$13.40 billion.

In Europe, exports reached a new high of US$5.35 billion, while outbound sales to Japan totaled US$2.96 billion, both showing substantial growth from the previous year.