Taiwan sees double-digit export boost at end of dismal 2023, buoyed by tech and AI
- Following long stretches of negative figures throughout 2023, Taiwan has posted double-digit growth in exports for December
- Favourable numbers largely attributed to increased demand for chips to power AI functions, high-level computation
Exports from Taiwan, a chief source of hi-tech gear for the global market, grew for a second straight month in December thanks to emergent demand for devices with chips built for generative artificial intelligence (AI) computations.
The design and manufacture of semiconductor chips to speed the processing of generative pre-trained transformer commands will set off a new wave of world smartphone and PC sales, analysts believe.
“Export growth improved in December, thanks to better shipments of electronics and information and communication products,” Moody’s Analytics associate economist Jeemin Bang said.
“Global semiconductor sales have picked up in recent months as AI-related chips demand has lifted billings,” Bang said. “As a leading producer of cutting-edge semiconductors, Taiwan benefits from this demand.”
The companies all have this kind of plan, and in 2024 we need to see how consumers react
Taiwan-based smartphone chip designer MediaTek has installed AI features in some of its processors, and Taiwan Semiconductor Manufacturing Company (TSMC)– the world’s largest contract chip maker – is investing in the production of these chips, said Eden Chung, semiconductor research analyst with TrendForce in Taipei.