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Taiwan March export orders seen growing for 25th straight month- Reuters poll

Taiwan March export orders seen growing for 25th straight month- Reuters poll

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

TAIPEI : Taiwan's export orders likely rose in March for the 25th straight month, a Reuters poll showed on Tuesday, supported by sustained global demand for semiconductors and tech products.

The median forecast from a poll of 15 economists expects export orders to rise 15.5 per cent from a year ago. Forecasts for growth ranged from 9.5 per cent to as high as 25 per cent.

The island's export orders, a bellwether of global technology demand, leapt 21.1 per cent from a year earlier to $51.56 billion in February, far outperforming expectations.

Taiwan's export orders are a leading indicator of demand for hi-tech gadgets and Asian 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.

The data for March will be released on Wednesday.

(Poll compiled by Devayani Sathyan, Swathi Nair and Carol Lee; Reporting by Ben Blanchard; Editing by Rashmi Aich)

Source: Reuters

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