UPDATE 1-Taiwan's April exports jump 39% but miss analysts' forecasts
Adds details throughout
TAIPEI, May 8 (Reuters) - Taiwan's exports rose less than expected in April, but the finance ministry said on Friday that demand for artificial intelligence chips and technology was expected to remain solid into the first half of the year.
Exports grew 39.0% year-on-year to $67.62 billion, the second-highest figure by value for any month, the ministry said, though the growth was below analysts' expectations for a 55% expansion.
Exports jumped 61.8% on-year in March.
Here are some details on the data from the ministry's statement:
• AI and cloud business demand remained solid.
• Exports should maintain double-digit growth in the first half of the year.
• Risks from conflict in the Middle East and U.S. trade policy should be closely watched.
• For May, the ministry expects exports to rise between 31% and 37% from a year earlier.
• In April, Taiwan's exports to the U.S. rose 63.8% from a year earlier to $21.532 billion, while exports to China climbed 15.8%.
• Exports of electronic components jumped 62.3% to $30.567 billion, while information products rose 38.9%.
• Imports rose 29.2% to $53.27 billion, lagging economists' forecasts of an increase of 38.75%.
• 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.
The ministry's website is at http://www.mof.gov.tw
