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Taiwan Dec export orders seen rising for 22nd month in a row

by Mike Robinson

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© Reuters. FILEPHOTO: Container cranes move containers at Keelung’s container yard on November 18th 2020. REUTERS/Ann Wang

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TAIPEI, Reuters – Taiwan’s December export orders rose for the 22nd consecutive month, but at a slower rate, a Reuters poll revealed on Thursday. This was due to supply chain problems and off of last year’s high base.

A poll of 17 economists found that the median forecast for export orders was 8% higher than last year. The range of growth forecasts was between 1% and 16.5%.

Global technology demand is measured by the growth in export orders to the island. It grew 13.4% to $65.5 Billion in November. That was more than anyone expected.

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

The key component of technology companies like Apple Inc (NASDAQ)’s global supply chain is the island’s manufacturing sector, which includes Taiwan Semiconductor Manufacturing Co Ltd., the largest contract chipmaker in the world.

On Thursday, the data for December is available.

(Poll compilation by Carol Lee. Reporting by Yimou Lee. Editing by RashmiAich.

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