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Taiwan May export orders seen up for 15th straight month: Reuters poll

(Facebook, Port of Kaohsiung photo)

(Facebook, Port of Kaohsiung photo)

TAIPEI (Reuters) - Taiwan’s export orders likely rose in May for the 15th month in a row, a Reuters poll showed, 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 10 economists expects export orders to surge 40.15% from the year-ago period. Forecasts for growth ranged from 20.5% to 45%.

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.

Despite a spike in domestic COVID-19 cases, Taiwan’s economy remains strong with exports unaffected.

The island’s April export orders, a bellwether of global technology demand, jumped 42.6% year-on-year to $54.93 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 such as Apple Inc.

The data for May will be released on Monday, June 21.

Updated : 2022-05-21 00:50 GMT+08:00