TAIPEI (Taiwan News) — Taiwan’s exports reached NT$12.675 trillion (US$38.71 billion) in January, the second-highest for the month in history.

The finance ministry said in a press release on Friday the figure represents an increase of 4.4% compared to the same month last year and 15th months of consecutive growth. The ministry said exporters benefited from AI demand and stronger-than-expected sales during the Lunar New Year period.

Electronics and ICT product exports were up 15.2% compared to January last year. Specifically, computers and computer accessories exports were up 58.3%, switches and router exports were up 30.3%, and semiconductor manufacturing equipment exports were up 8.8%.

Meanwhile, storage hardware exports were down 35% compared to January last year. Metal machining tool exports were down 30.6%, and DRAM exports were down 6.5%.

China and Hong Kong received the largest share of Taiwan’s exports (27.7%), followed by the US (21.8%), and ASEAN countries (21.4%). Taiwan’s exports to China and Hong Kong were mainly electrical components (62.9%).