AI demand is strong, exports in October are expected to reach 87.7 billion US dollars, securities tax may fall for 4th consecutive year

Reporter Chen Meiying/Special report

The Ministry of Finance will release October import and export statistics this week. Benefiting from strong demand for artificial intelligence (AI), the Ministry of Finance estimates that exports in October will be approximately US$85.2 billion to US$87.7 billion, an annual increase of 40% to 44%. It is expected to grow for 36 consecutive months, continuing the longest growth record in history. If exports are close to the upper edge of the forecast range, they are expected to surpass the single-month high set in September. Exports for the whole year may exceed US$900 billion.

Trading in Taiwan stocks heated up in October, with the index approaching the 50,000-point mark. However, due to fewer business days than in September, the Ministry of Finance estimates that the net amount of securities tax collected in October will decrease monthly, which may set a record for four consecutive years. (File photo)

According to statistics from the Ministry of Finance, exports in September reached US$87.22 billion, a record monthly high, an annual increase of 60.9%, the second largest increase in history, and the 35th consecutive month of growth. Imports in September also hit a new monthly high of US$63.59 billion, a monthly increase of 5.8% and an annual increase of 51.7%. In the first nine months, exports totaled US$661.65 billion and imports totaled US$501 billion, both of which rewrote the full-year record ahead of schedule. The former has an annual increase of 46.2%, and the latter has an annual increase of 41.3%. Exports and imports offset each other, with exports exceeding US$23.63 billion in September, also hitting a record high.

In addition, exports to the United States in September hit the second highest monthly level in history, with an annual increase of 1.1 times. In the first nine months, cumulative exports to the United States reached US$207.78 billion, exceeding US$200 billion for the first time. Exports to the United States also set a new record with US$163.3 billion. This is the first time in history that the amount of exports to mainland China and Hong Kong exceeded.

October securities tax is likely to fall for the fourth consecutive year, and annual insurance renewals are expected to increase by double digits

The Ministry of Finance will also announce the net tax collection in October this week. In October, Taiwan stocks approached the 50,000-point mark several times, and the single-day trading volume also increased, showing both volume and price. However, the overall trading days were less than in September. It is estimated that the net amount of securities transaction tax collected will decrease compared with the previous month, and it is likely to decline for four consecutive months, and the annual growth rate will still maintain double-digit growth.

The Ministry of Finance pointed out that in September, Taiwan stocks first fell and then rose, showing price increases and volume shrinking. The net amount of securities tax levied was 53.4 billion yuan, falling for three consecutive months and still hitting a record high for the same month in previous years, with an annual increase of 71.2% and a growth rate of 14 consecutive months. In the first nine months, the net amount of securities tax collected reached 506 billion yuan, continuing to hit a new high in the same period, with an annual increase of 1.6 times.

National tax revenue in September was 496.5 billion yuan, an annual increase of 19.6%. The cumulative tax revenue in the first nine months was 3.5714 billion yuan, a record high for the same period in previous years, with an annual increase of 24.4%, and the annual budget achievement rate was 78.8%.