Taipei-Taiwan export orders are likely to have increased for 18 consecutive months in August, a Reuters survey showed Wednesday. Supported by sustained demand for technology products during the COVID-19 pandemic and prior to the holiday shopping season at the end of the year.
A median forecast from a poll of 18 economists predicts that export orders will surge 20.7 percent year-on-year. Growth forecasts ranged from 18% to 24.5%.
Taiwan’s export orders are a leading indicator of high-tech equipment demand and Asian exports, usually leading actual exports by a couple of months.
Export orders from the island nation, which is the forerunner of global technology demand, increased by 21.4% in July to $ 55.3 billion year-on-year.
Taiwanese manufacturers such as Taiwan Semiconductor Manufacturing Co. Ltd, the world’s largest contract chip maker, are Apple Inc. Is an important part of the global supply chain of technology giants, including.
August data will be released on Friday.