Taiwan Dec export orders seen rising for 22nd month in a row

Taiwan Dec export orders seen rising for 22nd month in a row

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© Reuters. FILE PHOTO: Cargo cranes are seen moving containers at a container yard in Keelung, Taiwan, November 18, 2020. REUTERS/Ann Wang

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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 (NASDAQ:).

The data for December will be released on Thursday.

(Poll compiled by Carol Lee; Reporting by Yimou Lee; Editing by Rashmi Aich)

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