TAIPEI (Reuters) -Taiwan’s exports in September grew less than expected, with the impact of 20% U.S. tariffs being felt by the island even as semiconductors remain exempt.
Exports rose 33.8% from a year earlier to $54.25 billion, the finance ministry said on Thursday, missing the 35.5% increase forecast in a Reuters poll.
September’s slowdown ends a four-month record-breaking streak in export growth in August.
Taiwan’s exports to the United States are subject to a 20% tariff, which Taipei is in talks to reduce, though semiconductors are at present excluded.
“With AI application technologies accelerating… and peak season of China and the U.S. approaching, Taiwan’s exports are expected to continue their positive growth momentum,” the ministry said in a statement.
However, the global economic outlook continues to have a high level of uncertainty, as U.S. tariff policies take shape and geopolitical risks linger, so there is need for careful monitoring, the statement added.
Taiwan companies such as TSMC, the world’s largest contract chipmaker, are major suppliers to Nvidia, Apple and other tech giants.
For October, the ministry expects exports to rise between 28% and 33% year-on-year.
In September, Taiwan’s exports to the United States jumped 51.6% year-on-year to $13.316 billion, while exports to China climbed 12.8%.
Taiwan’s exports of electronic components rose 25.6% to $21.43 billion, with semiconductor exports up 86.9%.
Imports rose 25.1% to $41.86 billion, exceeding economists’ forecasts of an increase of 22.55%.
(Reporting by Faith Hung and Jeanny Kao, Editing by William Maclean)
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