Export Frenzy! July Exports Hit Record High of $56.68 Billion, Up 42% YoY

[Reporter Zheng Qifang/Taipei Report] The Ministry of Finance announced that July exports reached $56.68 billion, setting another all-time monthly record, with a 6.3% month-on-month (MoM) increase and a 42% year-on-year (YoY) surge—marking the 21st consecutive month of growth and the highest growth rate in 15 years. Cumulative exports from January to July totaled $339.94 billion, up 28.3% YoY. Tsai Mei-na, Director of the Statistics Department at the Ministry of Finance, stated that July's export performance was exceptionally strong, setting monthly records for three consecutive months, driven by the expansion of AI and high-performance computing (HPC) opportunities and the U.S. extension of tariff grace periods, which kept clients' restocking momentum robust.

July imports stood at $42.34 billion, the second-highest monthly figure on record, rising 2.6% MoM and 20.8% YoY. Cumulative imports from January to July amounted to $269.89 billion, up 20.5% YoY. The trade surplus in July reached $14.34 billion, a record high for any single month, with a YoY increase of $9.48 billion. The cumulative trade surplus for the first seven months was $70.05 billion, up $29.09 billion YoY.

The Ministry of Finance attributed July's record exports to sustained demand for emerging tech applications and the U.S. tariff grace period extension, which maintained strong client restocking momentum. Imports grew due to increased international collaboration in AI supply chains and higher purchases of semiconductor equipment.

Among major export categories, information and communication/audio-video products surged 87.1% YoY, while electronic components rose 34.1%, both hitting record or near-record monthly highs. These two sectors, fueled by AI and HPC demand, accounted for 75.2% of total exports. Electrical and machinery products also benefited from AI-driven demand for power supplies and cooling systems, growing 14.8% and 14% YoY, respectively. From January to July, electronics and ICT exports rose 43.1% YoY, while other categories grew 1.9%.

Exports to all five major markets rose in July, with shipments to ASEAN and the U.S. hitting record highs (up 71.6% and 62.8% YoY, respectively). Exports to China and Hong Kong grew 23.9%, while those to Europe and Japan increased 4.1% and 0.5%, respectively. From January to July, exports to all regions except Europe saw double-digit growth, led by the U.S. (53.5%) and ASEAN (36.9%). The U.S. and ASEAN's share of exports rose to 28.7% and 19.8%, respectively—the highest in 33 years and on record for the period.

Looking ahead, the Ministry of Finance noted that the extension of AI and HPC applications to end devices bodes well for future opportunities, and domestic semiconductor firms' expansion into advanced processes will further boost export momentum. However, global supply chains remain vulnerable to trade disputes, policy shifts, and geopolitical risks, necessitating close monitoring.