Taiwan’s exports rose by 1.3% in February compared to the same month last year, marking the fourth consecutive month of growth, the government said Friday (March 8).

The total for February reached US$31.43 billion (NT$986.62 billion), according to the Ministry of Finance (MOF). The February figures were stronger than expected, per CNA.

Information and communication products recorded their strongest-ever performance for February, with exports doubling year on year to US$8.51 billion. The MOF named AI as the reason for the surge, which had succeeded in compensating for a drop in other sectors during a traditionally low season.

The export of electronic parts declined by 10.4% and machine tools by 3.5%. The MOF also noted contractions for the export of metals, plastics, and chemical products in a range from 7% to 12% for the first two months of 2024 compared to the same period last year.

While exports still managed to increase despite February’s Lunar New Year holidays, imports fell 17.8% from Feb. 2023 to US$23.55 billion. As a result, Taiwan was left with a positive trade balance of US$7.89 billion.