TAIPEI (Reuters) – Taiwan’s export orders likely rose in July for the 17th consecutive month, a Reuters poll showed on Thursday, buoyed by strong sustained demand for technology products during lockdowns as millions of people work from home and take classes remotely.
The median forecast from a poll of 12 economists expects export orders to jump 20.85% from the year-ago period. Forecasts for growth ranged from 14% to 30%.
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 June export orders, a bellwether of global technology demand, leapt 31.1% year-on-year to $53.73 billion.
Taiwan’s manufacturers, such as 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.
The data for July will be released on Friday.
(Poll compiled by Carol Lee, reporting by Ben Blanchard; editing by Uttaresh.V)