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.
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.