Taiwan January Export Orders Seen Rising Asian Markets - EconomyDiary

Taiwan January Export Orders Seen Rising Asian Markets - EconomyDiary

Summary:

  • Orders median forecast 12.0% y/y (prior month +12.1%)
  • Data due Monday, Feb 21, 4:00 p.m. (0800 GMT)

TAIPEI, Feb 18 (Reuters) - Taiwan's export orders likely rose in January for the 23rd straight month, a Reuters poll showed on Friday, supported by sustained global demand for semiconductors and tech products. 

The median forecast from a poll of 13 economists expects export orders to rise 12.0% from the year-ago period. Forecasts for growth ranged from 4.1% to as high as 24.4%.

The island's export orders, a bellwether of global technology demand, rose 12.1% from a year earlier to $67.9 billion in December, the highest monthly figure on record.

 

Taiwan's export orders are a leading indicator of demand for hi-tech gadgets and Asian exports, and typically lead actual exports by two to three months.

The island'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 including Apple Inc (AAPL.O).

The data for January will be released on Monday.

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