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Taiwan Aug export orders seen rising for 18th consecutive month: Reuters poll By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: Trucks drive near containers at Keelung port, northern Taiwan, October 30, 2015. REUTERS/Pichi Chuang/File Photo

TAIPEI (Reuters) – Taiwan’s export orders likely rose in August for the 18th consecutive month, a Reuters poll showed on Wednesday, buoyed by sustained demand for technology products during the COVID-19 pandemic and ahead of the year-end holiday shopping season.

A poll of 18 economists found that the median forecast for export orders is for an increase in growth by 20.7% over last year. The range of growth forecasts was between 18% and 24.5%.

The export orders of Taiwan are an indicator of Asia’s demand for high-tech gadgets. They typically outperform actual exports by 2 to 3 months.

Export orders from Taiwan, which are a sign of technology demand worldwide, increased 21.4% to $55.3 billion in July, an increase that is a good indicator.

Taiwan Semiconductor Manufacturing Co Ltd is the largest Taiwanese contract chipmaker. They are key players in the supply chain that supplies technology companies like Apple Inc (NASDAQ).

Friday’s release will include the data for August.

(Poll compiled by Carol Lee; Reporting by Ben Blanchard, Editing by Sherry Jacob-Phillips)

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