Boosted by robust demand for technology products, Taiwan's export orders experienced a significant increase of 9.1% year-on-year in August, amounting to a total of $50.2 billion, as reported by the Ministry of Economic Affairs (MEA) on Wednesday. The demand for tech goods from Taiwan, home to prominent chip manufacturer TSMC and various related enterprises, serves as a critical indicator of global requirements for advanced computing hardware and AI-related technologies. According to the MEA, the remarkable growth in Taiwan's export figures for August stemmed from "continued demand for AI, high-performance computing, and cloud industries, as well as preparations for new consumer electronic products." In August, the United States emerged as the largest recipient of Taiwan's export orders, with a total of $16.7 billion, followed by mainland China and Hong Kong, which accounted for $11.2 billion, and the ASEAN bloc of countries, drawing $7.6 billion.

Europe contributed orders totaling $6.9 billion in goods during the same month, while Japan made orders amounting to $2.6 billion. Examining the goods category for August, the electronics sector attracted the highest volume of orders, tallying up to $17.8 billion, followed closely by information and communication products, which reached $14.1 billion. Throughout the first eight months of 2024, Taiwan's export orders were reported to have risen by 3.5% year-over-year, accumulating to $375.11 billion, according to the MEA. Looking ahead, the forecast for Taiwan's export orders in September is anticipated to range between $53.8 billion and $55.8 billion, reflecting an increase of 4.7% to 8.6% compared to the same period last year, as estimated by the MEA. Nevertheless, challenges lurk on the horizon for Taiwan's export projections, which include the potential for strikes by US dockworkers, complications arising from the ongoing US presidential election, and escalating tensions in the Middle East among other critical threats, a representative from the MEA stated..