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Taiwan April export orders seen up for 14th month in a row: Reuters poll

Taiwan April export orders seen up for 14th month in a row: Reuters poll

FILE PHOTO: Trucks wait to be loaded on with containers at a port in Keelung, Taiwan, June 10, 2020. REUTERS/Ann Wang

TAIPEI: Taiwan's export orders likely rose in April for the 14th month in a row, a Reuters poll showed, buoyed by strong sustained demand for technology products during coronavirus-induced lockdowns.

The median forecast from a poll of 12 economists expects export orders to rise 32.6per cent from the year-ago period. Growth forecasts ranged from a growth of 25per cent to up to 38.8per cent.

Taiwan's export orders are a leading indicator of demand for Asia's exports and for hi-tech gadgets, and typically lead actual exports by two to three months.

The region's export orders, a bellwether of globaltechnology demand, jumped 33.3per cent from a year earlier to US$53.66 billion in March.

Taiwan's manufacturers, such as the world's largest contract chip maker Taiwan Semiconductor Manufacturing Co Ltd, are a key part of the global supply chain for technology giants like Apple Inc.

The data for April will be released on Thursday.

(Poll compiled by Carol Lee, Reporting by Ben Blanchard; editing by Uttaresh.V)

Source: Reuters

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