Taiwan’s exports surged 49.7 per cent in October from a year earlier to a record $61.8 billion, the fastest pace in nearly 16 years, driven by strong global demand for semiconductors and AI technology.

This was disclosed by the Taiwanese finance ministry on Friday.

The growth, the highest since May 2010’s 57.7 per cent came despite U.S. tariffs on the island’s goods.

Taiwan’s export momentum is expected to remain strong, supported by surging demand for AI and high-performance computing applications, as well as the traditional year-end shopping season in Western markets, the finance ministry said in a statement.

It now projects exports to rise 30 per cent year-on-year in 2025, reaching $600 billion.

However, the ministry cautioned that the global economic outlook remains uncertain amid evolving United States tariff policies and persistent geopolitical risks, underscoring the need for close monitoring.

Taiwanese firms such as TSMC, the world’s largest contract chipmaker, are key suppliers to major technology companies including Nvidia and Apple.

In October, Taiwan’s exports to the United States surged 144.3 per cent year-on-year to $21.14 billion, while shipments to China rose a more modest 3.2 per cent, according to the finance ministry.