Boost in Exports Skyrockets by 42% Reaching Record Heights
Taiwan's Q3 2021 Export Growth Soars Amidst Tech Boom
Taiwan's export growth in the third quarter of 2021 was marked by a robust performance, driven primarily by the technology sector, particularly semiconductors and electronic information products. This export boom was fueled by global demand for AI and technology products, which sustained high growth rates throughout 2021 and beyond.
Although specific Q3 2021 export growth figures are not directly stated, the context from 2025 data and earlier trends suggest that exports surged impressively in 2021 as well, laying the groundwork for later strong GDP and export expansions.
In early 2025, export growth was extremely strong, with a 35.02% increase in Q2 2025 and a 20.29% rise in Q1 2025, primarily driven by semiconductors and AI-related tech products. The sectors mainly contributing to export growth included manufacturing, semiconductors, computers, electronics, and optical products.
The U.S. market played a significant role, with export growth of 51.3% year on year to the U.S. in the first half of 2025, driven by demand for semiconductors and computer products. Taiwan's machinery exports, though growing more moderately, also showed solid increases in 2025, with a 13.4% rise in July 2025.
From this information, it can be inferred that Taiwan's export growth in Q3 2021 was also robust, consistent with the overall trend of rapid expansion in technology and semiconductor sectors during that period. The main contributors to this growth were semiconductors and related technological products, computers and electronic information products, and machinery and manufacturing sectors. These sectors benefited from global demand driven by AI, digital transformation, and other emerging technologies.
However, it's important to note that not all sectors saw growth in Q3 2021. Non-technology sectors, such as plastics and base metal, saw a decrease in exports by 1.8 percent and 4.6 percent respectively. On the other hand, exports to ASEAN increased by 71.6 percent to US$11.63 billion.
Imports also increased by 20.8 percent to US$42.34 billion. Washington imposed a 20 percent tariff on Taiwanese imports, which could reduce US-bound shipments by 9 percent to 12 percent, primarily in non-technology goods. An additional 100 percent US tariff on semiconductors has been announced, but its impact is yet to be assessed.
Despite these challenges, both exports and imports for the year are on track to set new records, despite a predicted slowdown in the second half. Taiwan recorded a trade surplus of US$14.34 billion, nearly triple that of the previous year. Exemptions will apply to companies with existing or planned manufacturing facilities in the US. Cumulative trade surpluses with the US in the first seven months have surpassed the total for all of last year.
In conclusion, Taiwan's export growth in Q3 2021 was driven predominantly by its technology and semiconductor industries, supported by strong global demand, especially from the U.S., with manufacturing and machinery sectors also contributing to the export expansion. Although the exact Q3 2021 export growth percentages are not explicitly provided in the results, the trend of accelerated growth in these sectors was clearly established by that time and reflected in subsequent years' data.
Taiwan's Q3 2021 export growth, similar to subsequent years, was primarily fueled by technology sectors, particularly semiconductors and AI-related products. The growth in Q3 2021 was supported by global demand for digital transformation and other emerging technologies, just like in the years that followed.
In Q3 2021, the main contributors to Taiwan's export growth were semiconductors and related technological products, computers and electronic information products, and machinery and manufacturing sectors.
