The rising global demand for artificial intelligence servers has caused a huge increase in Taiwan’s exports, which mostly consist of computer equipment.
Taiwan increased its total exports by 18.9% in March, the fastest pace of growth in two years. Bloomberg reported this on Wednesday, April 10.
It is noted that the reason for such rapid growth in exports is the supply of computer equipment, which is undergoing a global boom in artificial intelligence. Its shipments increased by more than 400%.
Exports of computers and related equipment, including servers, hard drives and keyboards, rose 464.7% to $8.7 billion in March from the same month last year, Taiwan’s Ministry of Finance said in a statement on Wednesday.
The surge boosted Taiwan’s total overseas remittances to US$41.8 billion, up 18.9% year-on-year and the fastest growth rate since March 2022. Economists had forecast growth of 7.5%.
“The pace of growth may not always be the surprise of March, but we believe that Taiwan’s export demand will continue to receive a big boost from investments in artificial intelligence and the continued strengthening of the US economy, ” said ANZ Banking Group economist Bansi Madhavani.
It was previously reported that Taiwanese company TSMC plans to build a third plant in the US state of Arizona.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.