TAIPEI (Reuters) – Taiwan’s export orders likely rose in October for the 20th straight month, a Reuters poll showed on Friday, 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 13 economists expects export orders to jump 22% from the year-ago period. Forecasts for growth ranged from 15.8% to as high as 29%.
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 export orders, a bellwether of global technology demand, leapt 25.7% year-on-year to $62.9 billion in September, a historic high and stronger than expected on demand for new smartphones and chips.
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 October will be released on Monday.
(Poll compiled by Carol Lee; Reporting by Ben Blanchard; Editing by Sherry Jacob-Phillips)
