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Macro EconomyUpdated•Originally published 8 May 2026•Updated 8 May 2026•

1 min read

Taiwan Export Growth Slows in April, Missing Market Consensus

Key Facts

1Taiwan's export growth slowed to 39.0% year-on-year in April, falling short of consensus forecasts.

2Imports grew by 29.2% year-on-year, also missing estimates despite a spike in oil import prices.

Taiwan's export growth moderated to 39.0% year-on-year in April, a trend confirmed by TSMC's monthly sales which grew by 17.5% to NT$410.7 billion, marking its slowest expansion since October. National imports also missed estimates, growing by 29.2% despite higher energy costs. Notwithstanding the April slowdown, TSMC raised its full-year sales guidance and indicated that capital expenditure could reach the upper end of a $56 billion range. Analysts now expect second-quarter revenue to grow by approximately 35%, a target that necessitates a significant acceleration in May and June to offset the April performance. This data suggests a potential cooling in global tech demand, even as industry leaders maintain a bullish long-term outlook on AI infrastructure. Market participants remain focused on whether this represents a temporary lull or a broader shift in the trade cycle.

26 days ago

Version History

Version 126 days ago

What changed: Updated the story with TSMC's April sales data, which confirmed the broader export slowdown by hitting a 6-month growth low, while adding the company's bullish full-year guidance and capex outlook.