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 (NASDAQ:).
The data for June will be released on Tuesday.
(Poll compiled by Carol Lee; Reporting by Ben Blanchard, Editing by Sherry Jacob-Phillips)
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