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Taiwan’s export orders are expected to rise for the 19th consecutive month in September, according to a poll released on Monday, bolstered by robust chip demand as the world recovers from the pandemic, as well as the year-end holiday shopping season.
According to the median projection of 17 economists, export orders will increase by 17% over the previous year. Forecasted growth rates ranged from 6.5 percent to 26 percent.
Taiwan’s export orders are a leading predictor of demand for hi-tech gadgets and Asia’s exports, often two to three months ahead of actual exports.
The island nation’s export orders, a leading indicator of global technology demand, increased 17.6 percent year on year to $53.5 billion in August, a respectable result but lower than projected due to unexpectedly weaker demand for new cellphones.
Taiwan’s manufacturers, including the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, play an important role in the global supply chain for technology behemoths like Apple Inc. (NASDAQ: AAPL).
The September figures will be announced on Wednesday.
Story by : Norvisi Mawunyegah