© Reuters. Containers are seen stacked up at Keelung port, northern Taiwan, October 30, 2015. REUTERS/Pichi Chuang
TAIPEI (Reuters) – Taiwan’s export orders likely rose in July for the 17th consecutive month, a Reuters poll showed on Thursday, buoyed by strong sustained demand for technology products during lockdowns as millions of people work from home and take classes remotely.
The median forecast from a poll of 12 economists expects export orders to jump 20.85% from the year-ago period. Forecasts for growth ranged from 14% to 30%.
Taiwan’s export orders are a leading indicator of demand for hi-tech gadgets and Asia’s exports, and typically lead actual exports by two to three months.
The island’s June export orders, a bellwether of global technology demand, leapt 31.1% year-on-year to $53.73 billion.
Taiwan’s manufacturers, such as the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key part of the global supply chain for technology giants including Apple Inc (NASDAQ:).
The data for July will be released on Friday.
(Poll compiled by Carol Lee, reporting by Ben Blanchard; editing by Uttaresh.V)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.