Global Supply Chain Diversification Drives May Exports to ASEAN to Record High, Up 90.8% YoY

(Central News Agency, Reporter Lu Yan-ci, Taipei, June 9) The Ministry of Finance today released the latest import and export statistics. Driven by the global wave of artificial intelligence (AI) and the trend of global supply chain diversification, exports to ASEAN in May reached a record high of US$18.77 billion, a year-on-year increase of 90.8%. Consequently, the share of ASEAN exports in total exports rose to 23.9%.

According to the preliminary customs import and export trade statistics for May released by the Ministry of Finance, exports totaled US$78.48 billion and imports totaled US$60.57 billion, marking the second-highest monthly figure and a new record high, respectively. The year-on-year growth rates were 51.7% and 54.9%.

Analyzing the performance of the five major markets, Tsai Mei-na, Director of the Department of Statistics at the Ministry of Finance, noted that with the global AI wave and Taiwan's core position in the AI supply chain, exports to major markets rose for the ninth consecutive month in May.

Exports to ASEAN in May hit a record high of US$18.77 billion, up 90.8% year-on-year. The export values of four product categories—electronic components, information and communication/audio-visual products, machinery, and electrical machinery—all reached single-month highs. Behind this growth, besides AI business opportunities, is the global trend of supply chain diversification. As a result, the share of ASEAN exports in total exports reached 23.9% in May, and the trade surplus with ASEAN reached US$7.83 billion, also a single-month record.

Furthermore, exports to China and Hong Kong in May reached a record high of US$19.03 billion, a year-on-year increase of 35.4%. Tsai stated that this is the best performance in the past five years excluding the Chinese New Year period, indicating that the recovery base for exports to China and Hong Kong is gradually stabilizing.

Exports to the US in May were US$22.94 billion, and exports to Europe were US$4.66 billion, both ranking as the third-highest monthly figures on record, with year-on-year growth rates of 47.9% and 40.3%, respectively. Exports to Japan reached US$3.09 billion, a record high for the same month, up 32.3% year-on-year. (Editor: Huang Guo-lun) 1150609