According to Taiwan’s Ministry of Finance (MOF), the island’s exports in February surged by more than 30% year-on-year, marking the 16th consecutive month of growth. The United States overtook China and Hong Kong to become Taiwan’s largest export destination for the first time in 24 years.
Strong Export Performance Exceeds Expectations
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Taiwan’s export value in February reached USD 41.3 billion, up 31.48% compared to the same month last year. This brought the total export turnover for the first two months of 2025 to USD 80.02 billion, a 16.81% increase year-on-year.
Although February is traditionally a low-season month, exports performed far better than expected. Earlier, MOF had projected February exports to range between USD 36.5 – 37.7 billion with annual growth of 16–20%, but actual figures far exceeded forecasts.
AI and High-Performance Computing Drive Growth
MOF attributed the surge to the rapid global adoption of emerging technologies such as artificial intelligence (AI) and high-performance computing (HPC) devices. The growing demand prompted companies to front-load orders and increase inventories, partly due to concerns over potential tariff policies under the Trump administration.
Additionally, more working days in February compared to last year (due to the timing of the Lunar New Year holiday) contributed to across-the-board growth across major industries.
United States Overtakes China and Hong Kong
Data from MOF showed that the United States imported USD 11.77 billion worth of Taiwanese goods in February—accounting for 28.5% of Taiwan’s total exports. Meanwhile, China and Hong Kong imported USD 11.72 billion, or 28.4% of the total.
This marks the first time in nearly a quarter-century that the U.S. has replaced China and Hong Kong as Taiwan’s top export market. Moreover, total exports to the U.S. and ASEAN in the first two months of 2025 hit record highs. Exports to China and Hong Kong reached USD 22.43 billion, an increase of USD 1.13 billion (+5.3%) from the same period last year.
Diversification Amid Trade Tensions
Commenting on the shift, MOF noted that in addition to U.S. companies accelerating imports to hedge against possible tariffs, the escalating U.S.–China trade conflict has pushed many Taiwanese exporters to diversify their markets. This diversification helped propel the U.S. to the top of Taiwan’s export list.
The ministry added that strong AI-related demand and global supply-chain restructuring also fueled the trend, making the United States Taiwan’s largest export destination in February 2025.