By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Magadh Today - Beyond HeadlinesMagadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
  • Home
  • India
  • Editorial
  • Opinion
  • Global
  • Technology
  • Science
  • Asia
  • Business
  • Finance
Reading: US topples China as Taiwan’s largest export market due to chips,AI demand
Share
Notification Show More
Aa
Magadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
Aa
  • India
  • Economy
  • Politics
  • Business
  • Technology
  • Finance
  • Editorial
  • Opinion
  • Science
  • Home
  • Technology
  • Business
  • Economy
  • Politics
  • Science
  • Sitemap
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Magadh Today - Beyond Headlines > Latest News > Global > US topples China as Taiwan’s largest export market due to chips,AI demand
GlobalUnited States

US topples China as Taiwan’s largest export market due to chips,AI demand

Gulshan Kumar
Last updated: 2024/04/12 at 4:53 PM
By Gulshan Kumar 2 years ago
Share
SHARE

The United States has topped long-time leader China as Taiwan’s main export market for four consecutive months due to a surge in demand for microchip products and AI technology, Taipei’s finance ministry said on Friday.

Self-ruled Taiwan is a microchip-manufacturing powerhouse, churning out the world’s most advanced silicon wafers necessary to power everything from e-vehicles and satellites to fighter jets and increasingly to power AI technology.

For two decades, its top export market has been China — which claims Taiwan as part of its territory — but December data from Taiwan’s finance ministry shows the United States topping the list for the first time since August 2003.

In December, Taiwan exported $8.49 billion in products to the United States, compared with $8.28bn to mainland China.

The trend continued through March, when US exports increased by 65 per cent to $9.11bn, a 6pc jump, while mainland China received $7.99bn.

Those figures exclude Hong Kong, which holds its own status as a customs territory. When combined with mainland tallies, China remains the top destination for Taiwanese goods.

Taiwan’s finance ministry official in the trade division attributed the recent US tilt to the global “reorganisation of electronics and ICT (information and communication technology) supply chains, and the popularity of the AI industry”.

Since Taiwanese President Tsai Ing-wen came to power in 2016, she has been working to strengthen economic ties with the United States, seeing Washington as a crucial partner as neighbouring China grows increasingly aggressive.

By AFP

You Might Also Like

Trump Imposes Additional 25% Tariff on Indian Imports Over Russian Oil Purchases

US working to prevent Turkiye offensive in Syria

US, Canadian, Australian travellers face UK entry fee

Britain bans islamic investment group’s ‘offensive’ ads’

Trudeau rejects Trump’s idea of forcing Canada to become a US state

Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Reddit Telegram Copy Link Print
Previous Article Beijing slams Us-japan- philipines summit, says South China Sea actions ‘lawful’
Next Article Nitish Kumar lashes out at Tejashwi Yadav in Nawada rally, reminisces about pre-2005 Bihar
about us

Your daily dose of news and updates on politics, culture, and events around the globe. Stay informed, stay connected!

Quick Links

  • Home
  • Sitemap
  • Contact
  • About
  • Privacy Policy
  • Terms and Conditions
Magadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
© Magadh Today Network. All Rights Reserved.
Go to mobile version
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?