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Taiwan July exports set to rise for 13th straight month: Reuters poll

Taiwan's exports likely rose for a 13th straight month in July, a Reuters poll showed, boosted by strong demand for electronics goods as the global economy traces its path back to recovery with sustained work-from-home trends.

Taiwan July exports set to rise for 13th straight month: Reuters poll

FILE PHOTO: A person walks near containers at Keelung port, northern Taiwan, October 30, 2015. REUTERS/Pichi Chuang/File Photo

TAIPEI: Taiwan's exports likely rose for a 13th straight month in July, a Reuters poll showed, boosted by strong demand for electronics goods as the global economy traces its path back to recovery with sustained work-from-home trends.

Taiwan is one of Asia's major exporters, especially of technology goods, and its export trend is a key gauge of global demand for technology gadgets worldwide.

It is a global hub for chip production and a key Apple Inc supplier, which said last week a chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production.

The export forecasts from the poll of 11 analysts ranged widely between a rise of 18.00per cent and 33.56per cent, amid uncertainties over the global economic recovery following the COVID-19 outbreak that has disrupted the global supply chain.

July exports were seen rising 29.5per cent on the year.

Exports rose 35.1per cent last month on strong semiconductor sales which logged a record monthly high.

A robust demand for laptops and tablets as more people work and study from home due to the pandemic boosted Taiwan's exports, with demand also growing in recovering economies including China, the United States and Europe.

Imports were seen growing 35per cent in July, after soaring 42.3per cent in the prior month.

The consumer price index (CPI) was expected to rise 1.81per cent from a year earlier, compared with an increase of 1.89per cent in June.

Inflation and trade data will both be released on Thursday and Monday, respectively.

(Poll compiled by Carol Lee; reporting by Yimou Lee; editing by Rashmi Aich)

Source: Reuters

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