Taiwan August Export Orders Seen Rising for 18th Consecutive Month: Poll

By Reuters
Reuters
Reuters
September 22, 2021 Updated: September 22, 2021

TAIPEI—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.

The median forecast from a poll of 18 economists expects export orders to jump 20.7 percent from the year-ago period. Forecasts for growth ranged from 18 percent to 24.5 percent.

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 nation’s export orders, a bellwether of global technology demand, rose 21.4 percent in July to $55.3 billion year-on-year.

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.

The data for August will be released on Friday.

By Ben Blanchard

Reuters