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Taiwan Sept export orders seen rising for 19th month on robust chip demand: Reuters poll

Taiwan Sept export orders seen rising for 19th month on robust chip demand: Reuters poll

FILE PHOTO: Shipping containers are seen at Keelung port, northern Taiwan, March 20, 2016. REUTERS/Tyrone Siu

TAIPEI : Taiwan's export orders likely rose in September for the 19th straight month, a Reuters poll showed on Monday, buoyed by strong chip demand as the world emerges from the pandemic, while the year-end holiday shopping season also aided sentiment.

The median forecast from a poll of 17 economists expects export orders to jump 17per cent from the year-ago period. Forecasts for growth ranged from 6.5per cent to as high as 26per cent.

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

The island nation's export orders, a bellwether of global technology demand, leapt 17.6per cent from a year earlier to US$53.5 billion in August, a strong performance but less than forecast on unexpectedly weaker demand for new smartphones.

Taiwan'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 such as Apple Inc.

The data for September will be released on Wednesday.

(Poll complied by Carol Lee; Reporting by Ben Blanchard; Editing by Rashmi Aich)

Source: Reuters

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