TAIPEI (Reuters) – Taiwan’s export orders likely rose in July for the fifth consecutive month, a Reuters poll showed, buoyed by robust global demand for technology products during coronavirus lockdowns that forced people to stay indoors.
The median forecast from the poll of 13 economists was for export orders to rise 3.7% from the same period last year. Forecasts ranged from a growth of 0.4% to 7%.
Orders in June jumped 6.5% from a year earlier, their fastest pace in nearly two years, boosted by strong demand for telecommuting products such as laptops, as the COVID-19 pandemic forced millions of people around the world to work from home.
Taiwan’s export orders are a leading indicator of demand for Asia’s exports and for hi-tech gadgets, and typically lead actual exports by two to three months.
(Poll compiled by Carol Lee; Reporting by Ben Blanchard; Editing by Rashmi Aich)