Taiwan June export orders seen up for 16th straight month: Reuters poll

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

July 16, 2021

TAIPEI (Reuters) – Taiwan’s export orders likely rose in June for the 16th consecutive month, a Reuters poll showed, buoyed by strong sustained demand for technology products during lockdowns as millions of people work from home and take classes remotely.

The median forecast from a poll of 10 economists expects export orders to jump 29.45% from the year-ago period. Forecasts for growth ranged from 19% to 32.4%.

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’s May export orders, a bellwether of global technology demand, jumped 34.5% year-on-year to $52.29 billion.

Taiwan’s manufacturers, such as 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 June will be released on Tuesday.

(Poll compiled by Carol Lee; Reporting by Ben Blanchard, Editing by Sherry Jacob-Phillips)