Overview
- Customs data for March 1–20 show exports rose 50.4% year over year to US$53.3 billion, the highest total ever for that span.
- Even after an extra workday, average daily shipments increased 40.4% to US$3.55 billion, pointing to broad strength.
- Semiconductor exports surged 163.9% to a record US$18.7 billion and made up about 35% of all overseas sales as AI servers and data centers fueled demand.
- Imports grew 19.7% to US$41.2 billion, leaving a trade surplus of US$12.1 billion for the period.
- Rising oil prices linked to the Iran conflict, shipping strains, and fresh U.S. tariff uncertainty now threaten the outlook, and Citigroup expects the central bank to raise rates as inflation pressures build.