TAIPEI (Taiwan News) — Taiwan’s exports surged by 18.1% in January compared to the same month last year, underlining a recovery for the country’s economy, the government said Wednesday (Feb. 7).

The total for the month reached US$37.19 billion (NT$1.16 trillion), according to the Ministry of Finance (MOF). The January figures marked the strongest increase in 21 months, and the third consecutive rise, per CNA.

Information and communication products recorded their strongest-ever performance, with exports doubling in January. Electronic parts registered an increase of 7.5% following a decline in December.

Imports ended 14 consecutive months of decline, growing by 19% from January 2023 to reach US$34.7 billion. As a result, Taiwan’s trade surplus stood at US$2.49 billion for the first month of this year.