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Taiwan January export orders seen rising for 23rd straight month

by Mike Robinson

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© Reuters. FILE PHOTO – Containers are seen being stacked at Keelung Port, Northern Taiwan, October 30, 2015. REUTERS/Pichi Chuang

TAIPEI, Reuters – Taiwan’s January export orders rose for the 23rd consecutive month. This was supported by a sustained global demand of semiconductors and other tech products, according to Reuters poll.

According to a survey of 13 economists, the median forecast expects that export orders will rise by 12.0% compared with last year. The range of growth forecasts was from 4.1% up to 24.4%.

As a gauge of global tech demand, the island’s export orders rose 12.1% to $67.9 Billion in December. This is the highest monthly number ever recorded.

Taiwan’s export orders, which are often a good indicator of Asian demand and hi-tech gadgets, usually lead actual exports for two to three 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 Monday, the data for January are available.

(Poll compilation by Devayani Sathyan & Carol Lee; Reporting by Ben Blanchard, Editing By Rashmi Iich

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