TAIPEI (Reuters) – Taiwan’s exports rose more than expected in March to a record level as customers placed orders ahead of expectations of U.S. tariffs, with uncertainty over global trade policy clouding the outlook.
Exports jumped 18.6% from the same month a year ago to $45.97 billion, the finance ministry said on Thursday, topping a forecast of 8.45% in a Reuters poll, though off February’s 31.5% gain, making March the 17th consecutive month of gains.
Trump announced a 90-day pause for most of his planned new tariffs on Wednesday.
Taiwan firms such as TSMC,, the world’s largest contract chipmaker, are major suppliers to Apple, Nvidia and other tech companies.
March exports benefited from strong artificial intelligence demand and as customers placed orders in advance in expectation of the U.S. tariff measures, the ministry said in a statement, adding the performance was “an unprecedented surge”.
Still, while the ministry said Taiwan exports could maintain their momentum, uncertainty remains over the U.S. tariffs, along with geopolitical risks and the steps other countries take in response.
For April, the ministry expects exports to be in a range from flat to an increase of 5% on year, though it said that does not take into account the tariff factor.
In March, Taiwan’s exports to the United States rose 39.9% year-on-year to $12.752 billion, versus a 65.6% surge in the prior month.
Exports to China, Taiwan’s biggest trading partner, climbed 12.6%, after rising 27.9% in February.
Taiwan’s total exports of electronic components climbed 19.3% in February on the year to $17.527 billion, with semiconductor exports up 20.6%.
Imports rose 28.8% to $42.62 billion, higher than economists’ forecasts of a gain of 14.0%.
(This story has been corrected to show that it was the 17th straight month of gains, not 16th, in paragraph 2)
(Reporting by Loh Liang-sa and Faith Hung; Editing by Jane Merriman and Peter Graff)
