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Taiwan May exports seen rising for 23rd month, but more slowly

Taiwan May exports seen rising for 23rd month, but more slowly

FILE PHOTO: A cargo ship is pictured at a port in Keelung, Taiwan, January 7, 2022. REUTERS/Ann Wang

TAIPEI: Taiwan's exports likely rose for the 23rd straight month in May but more slowly than in April, hit by pandemic-control lockdowns in China and effects of the war in Ukraine, a Reuters poll showed.

Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia's major 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 per cent from a year earlier, a Reuters poll of 17 analysts showed, slower than the 18.8 per cent jump in April.

The export forecasts ranged between rises of 5 per cent and 20 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 3.3 per cent from a year earlier, a slightly slower rate from an increase of 3.38 per cent in the 12 months to April.

The inflation data will be released on Tuesday and trade data will come on Wednesday.

Source: Reuters/gs

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