UPDATE 1-Taiwan April export orders beat forecasts, AI demand remains solid

Adds details throughout

- Taiwan's export orders expanded at a better-than-expected clip in April, as worldwide demand for artificial intelligence chips remained strong despite the economic and energy-related uncertainties caused by the U.S.-Israeli war on Iran.

Here are some details:

  • Export orders in April rose 48.1% from a year earlier to $87.45 billion, the Ministry of Economic Affairs said on Wednesday. That beat analysts' expectations for a gain of 45% and marked its 15th straight monthly gain. In March, orders jumped 65.9% from a year earlier to $91.12 billion, an all-time high and its fastest pace in more than 16 years.

  • Orders for goods from Taiwan, home of the world's largest contract chipmaker TSMC 2330.TW and other tech companies, are considered a bellwether of global technology demand.

  • For May, the ministry said it expected export orders to rise 46.4% to 49.7% from a year earlier.

  • Uncertainties like geopolitical risks and trade barriers would weigh on global economic growth. But the momentum for orders would be supported as stable growth as new applications such as AI and high-performance computing continue to expand.

  • Taiwan's orders in April for telecoms products were up 89.7% from a year earlier, while those for electronic products jumped 45.9%.

  • Overall orders from China rose 29.0% versus a 45.7% jump in March.

  • Orders from the U.S. climbed 62.6% after a surge of 76.4% a month earlier. Orders from Europe were up 21.8% and those from Japan rose 33.3%.

The ministry's website is http://www.moea.gov.tw/