Salem Radio Network News Monday, October 18, 2021

Business

Taiwan Aug export orders seen rising for 18th consecutive month: Reuters poll

TAIPEI (Reuters) – Taiwan’s export orders likely rose in August for the 18th consecutive month, a Reuters poll showed on Wednesday, buoyed by sustained demand for technology products during the COVID-19 pandemic and ahead of the year-end holiday shopping season.

The median forecast from a poll of 18 economists expects export orders to jump 20.7% from the year-ago period. Forecasts for growth ranged from 18% to 24.5%.

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, rose 21.4% in July to $55.3 billion year-on-year.

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 August will be released on Friday.

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

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