UPDATE 1-Taiwan June exports miss forecasts, but AI demand remains strong
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TAIPEI, July 9 (Reuters) - Taiwan's exports rose less than expected in June, marking a softening in momentum for the island that serves as a critical hub in the global AI supply chain.
Exports climbed 40.3% from a year earlier to $74.83 billion, the finance ministry said on Thursday, falling below the 48.6% gain forecast by analysts and the 51.7% jump in May, a month in which exports rose to $78.48 billion, the second-highest export value for any month on record.
• AI, high-performance computing and cloud business demand remained solid. Shipments related to those supply chains were buoyant.
• Global economic growth momentum would be affected by uncertainties such as geopolitical risks and U.S. trade policy.
• For July, the ministry expects exports to rise 34% to 39% from a year earlier.
• In June, Taiwan's exports to the U.S. rose 34.8% from a year earlier to $23.284 billion, while exports to China gained 22.2%.
• Exports of electronic components jumped 32.8% to $25.385 billion, while information products rose 72.3%.
• Imports jumped 51.8% to $62.63 billion, a record monthly high, and surpassed economists' forecasts for an increase of 47.75%.
• Taiwanese companies, such as TSMC 2330.TW, TSM.N, the world's largest maker of advanced chips used to power AI applications, are major suppliers to Nvidia NVDA.O, Apple AAPL.O and other leading tech companies.
