FX.co ★ Taiwan’s Exports Soar 49.7% in October

In October, Taiwan experienced a remarkable 49.7% increase in exports compared to the same month the previous year, reaching USD 61.8 billion. This growth marks an acceleration from September’s 33.8% rise and significantly surpasses market predictions, which anticipated a 31.6% increase. The surge in exports was primarily propelled by substantial shipments of information, communication, and audio-video products, which soared by 138.2%, as well as a 27.7% increase in electronic parts. Export growth was notably strong across key trading partners: the United States saw an impressive 144.3% increase, ASEAN countries experienced a 40.0% rise, European exports grew by 26.2%, Japan by 19.8%, and exports to China and Hong Kong witnessed a modest increase of 3.2%.