Taiwan August exports seen up for 26th straight month: Reuters poll
2022.09.02 07:38
A cargo ship is pictured at a port in Keelung, Taiwan, January 7, 2022. REUTERS/Ann Wang
TAIPEI (Reuters) – Taiwan’s exports likely rose for the 26th straight month in August although at a slower pace than in July, amid fears of a global recession, uncertainties due to the Ukraine conflict, and COVID-19 flare-ups in China, according to a Reuters poll.
Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:AAPL), is one of Asia’s leading exporters of technology goods. The trade data is seen as an important gauge of world demand for tech gadgets.
Exports last month were estimated to have risen 9.5% from a year earlier, a Reuters poll of 13 analysts showed on Friday, slower than the 14.2% jump in July.
The export forecasts all predicted increases but ranged widely between 3% and 12.06%, reflecting uncertainties over the global economy, supply chain disruptions due to pandemic lockdowns in China, and Russia’s invasion of Ukraine.
Taiwan’s Finance Ministry predicted August exports would increase by 8% to 12% from a year earlier.
Separately, the consumer price index was expected to have risen 3.05% in August from a year earlier, a slightly slower rate than 3.36% in July.
The inflation data will be released on Tuesday, followed by trade data on Wednesday.
(Poll compiled by Anant Chandak and Carol Lee; Reporting by Ben Blanchard; Editing by Edmund Klamann)
