FILE PHOTO: Cargo cranes are seen moving containers at a container yard in Keelung, Taiwan, November 18, 2020. REUTERS/Ann Wang
January 19, 2022
TAIPEI (Reuters) – Taiwan’s export orders likely rose in December for the 22nd straight month albeit at a slower pace, a Reuters poll showed on Thursday, due to supply chain issues and off last year’s high base.
The median forecast from a poll of 17 economists expects export orders to rise 8% from the year-ago period. Forecasts for growth ranged from 1% to 16.5%.
The island’s export orders, a bellwether of global technology demand, grew 13.4% year-on-year to $65.5 billion in November, faster than expected and a historic high due to sustained technology demand ahead of the year-end holiday shopping season.
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 manufacturers, including 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.
The data for December will be released on Thursday.
(Poll compiled by Carol Lee; Reporting by Yimou Lee; Editing by Rashmi Aich)
Source: One America News Network
