Taiwan Oct export orders seen rising for 20th straight month

  • 11/19/2021
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For poll data click: Orders median forecast 22% y/y (prior month +25.7%) Data due Monday, Nov 22, 4:00 p.m. (0800 GMT) TAIPEI, Nov 19 (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 (2330.TW), are a key part of the global supply chain for technology giants such as Apple Inc (AAPL.O). The data for October will be released on Monday.

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