Intellasia East Asia News – Taiwan May exports seen growing for 11th month in a row: Reuters poll

Taiwan’s exports likely rose for an 11th straight month in May, a Reuters poll showed, lifted by demand for electronic goods as people continued to work and study from home due to the COVID-19 pandemic.

Taiwan is one of Asia’s major exporters of technology goods, and its export trend is a key gauge of global demand for hi-techgadgets.

It is a key supplier to Apple Inc, which in April posted sales and profits ahead of Wall Street expectations fuelled by 5G iPhone upgrades but warned that a global chip shortage could dent iPads and Mac sales by several billion dollars.

The export forecasts from the poll of 11 analysts ranged widely between a rise of 16per cent and 33.6per cent, on uncertainties over the novel coronavirus outbreak that has disrupted the global supply chain and sent major economies into recession.

Exports were seen climbing 26per cent last month.

In April, exports jumped 38.7per cent from a year earlier.

Taiwan’s exports have been helped by robust demand for laptops and tablets to support working from home due to the pandemic.

Imports were seen growing 25.7per cent in May, after soaring 26.4per cent in the prior month.

The consumer price index (CPI) was tipped to rise 2.2per cent from a year earlier, compared with an increase of 2.09per cent in April.

The inflation data and trade data will both be released on Tuesday.

https://www.channelnewsasia.com/news/business/taiwan-may-exports-seen-growing-for-11th-month-in-a-row reuters-poll-14947032

 

Category: Taiwan


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