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Taiwan June exports seen rising faster as supply chains woes ease - Reuters poll

Taiwan June exports seen rising faster as supply chains woes ease - Reuters poll

FILE PHOTO: Cargo trucks work inside a container yard in Keelung, Taiwan, January 7, 2022. REUTERS/Ann Wang

TAIPEI : Taiwan's exports likely rose for the 24th straight month in June and at a faster clip than in May, thanks to easing supply chain woes and stronger technology demand, a Reuters poll showed on Tuesday.

Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia's leading exporters of technology goods, so the trade data is seen as an important gauge of world demand for tech gadgets.

Exports last month were estimated to have risen 13.55 per cent from a year earlier, a Reuters poll of 18 analysts showed, faster than the 12.5 per cent jump in May.

The export forecasts ranged between rises of 6 per cent and 19.4 per cent, reflecting uncertainties over the global economic recovery and supply chain disruptions caused by COVID-19 lockdowns in eastern China and Russia's invasion of Ukraine.

Separately, the consumer price index was expected to have risen 3.5 per cent from a year earlier, a slightly quicker rate than an on-year increase of 3.39 per cent in May.

The inflation data will be released on Wednesday, followed by the trade data on Friday.

(Poll compiled by Devayani Sathyan, Anant Chandak and Carol Lee; Reporting by Ben Blanchard; Editing by Sonali Desai)

Source: Reuters

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