Taiwan’s exports grew by 4.4% year-on-year in January, marking the 15th consecutive month of growth, according to the Ministry of Finance (MOF).

Total exports reached US$38.71 billion, surpassing previous forecasts of US$35.6 billion to US$36.7 billion.

Imports, however, fell by 17.2% year-on-year to US$28.74 billion due to seasonal factors.

This shift resulted in a trade surplus of US$9.97 billion, a 317.9% rise compared to the same period last year.

Beatrice Tsai, director-general of the MOF’s Department of Statistics, indicated that the Lunar New Year holiday and seasonal slowdowns affected overall activity.

Nonetheless, strong global demand for AI and high-performance computing devices boosted Taiwan’s tech sector.

China and Hong Kong continued to be Taiwan’s largest export markets, though purchases dropped 11.7% to US$10.71 billion.

Looking ahead, the MOF expects Taiwan’s exports for February to range between US$36.5 billion and US$37.7 billion, potentially increasing by 16-20% year-on-year.