FX.co ★ Taiwan Exports Hit Record High in November

Taiwan witnessed a remarkable 56.0% year-on-year increase in exports, reaching a record USD 64.0 billion in November. This was an acceleration from October's 49.7% rise and exceeded market predictions of a 41.1% increase. The expansion was primarily driven by a significant boost in exports of information, communication, and audio-video products, which surged by 170.8%, along with electronic parts up by 29.3% and machinery with a 17.9% increase. In contrast, exports of chemicals dipped by 0.7%, while those of base metals and related articles fell by 5.8%. Analyzing by destination, exports saw substantial growth in key markets, particularly the US, with a significant increase of 182.3%. Other notable increases were observed in Europe (+36.8%), Korea (+34.2%), ASEAN (+31.5%), Japan (+18.2%), and China and Hong Kong (+16.5%). From January to November, Taiwan's total exports amounted to USD 578.49 billion, marking a 34.1% increase year-on-year, with an impressive 73.4% surge in shipments to the United States.