Taiwan’s exports grew more than expected and reached a monthly record of US$58.5 billion (RM246.23 billion) in August, underscoring demand for the archipelago’s tech goods despite new US tariffs.

Total exports rose 34.1% in August from a year earlier, compared with a gain of 42% in July, the Finance Ministry said in a statement on Tuesday. That was far higher than the 25% median estimate of 15 economists surveyed by Bloomberg.

The ministry said last month’s exports were benefiting from the AI boom and shipments of tech products continued to maintain momentum.

Imports grew almost 30% in August, leaving a trade surplus of US$16.8 billion, the highest ever for a single month.

The Trump administration hit Taiwan’s shipments with 20% duties — above the level for regional rivals including Japan and South Korea — effective Aug 7. The higher barriers are a risk for Taiwan, whose trade surplus with the US exceeded its full-year record in just seven months.

While most of Taiwan’s exports, such as semiconductors, received exemptions, US President Donald Trump said last week he’d impose levies on chip imports soon. It’s unclear how much Taiwan would be impacted given its companies, such as Taiwan Semiconductor Manufacturing Co, have made investments in the US to please US officials.

Taiwan has been among the world’s fastest-growing economies this year because its tech exports have been in demand during a global boom in artificial intelligence and as companies front-loaded purchases before tariffs landed.

Last month, Taiwan raised its estimate for growth in 2025 to 4.45%, up from the 3.1% predicted earlier — an indication the government is confident demand for the archipelago’s products will persist.

The government in Taipei has said it would continue to negotiate with the US to further bring down the tariff rates.

The industrial engine of Taiwan’s economy has already shown signs of cooling in recent months, however, with growth in the production of computers and electronics dropping after a surge above 80%.

Source: The Edge Malaysia