TAIPEI (TVBS News) — Minister of Finance Chuang Tsui-yun announced on Monday (Dec. 4) that Taiwan's exports for 2023 are expected to surpass US＄400 billion, ranking as the third-highest on record.
Chuang, in her morning statement, expressed confidence that the positive trend in exports is not a one-time occurrence. Monthly exports in the fourth quarter are projected to exceed US＄30 billion each, following a return to growth in September, with October's export volume reaching US＄38.1 billion.
The export figures for the first ten months have accumulated to US＄355.1 billion, putting the country on a solid path to achieve the forecast.
Buoyed by year-end stockpiling needs, burgeoning applications of emerging technologies, and thriving opportunities in artificial intelligence, there is cautious optimism for the export performance in November and December.
On Friday, the Ministry of Finance will release trade statistics, with expectations that November exports will show positive growth.
Taiwan's full-year exports are anticipated to only trail behind the US＄446.4 billion seen in 2021 and the US＄479.4 billion in 2022. Since 2017, Taiwan's annual exports have consistently soared above US＄300 billion, marking a significant rise from the US＄200 billion-plus figures prior to 2016.
Looking ahead, the Directorate General of Budget, Accounting, and Statistics forecasts an export growth rate of 6.3 percent for the coming year.