Taiwan July exports seen growing at slower pace amid rising uncertainties – Reuters Poll
2022.08.04 08:10
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 25th straight month in July though at a slower pace than in June, 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, with the trade data seen as an important gauge of world demand for tech gadgets.
Exports last month were estimated to have risen 11.65% from a year earlier, a Reuters poll of 10 analysts showed on Thursday, slower than the 15.2% jump in June.
The export forecasts ranged between 4.5% and 19.0% higher, reflecting uncertainties over the global economic recovery, supply chain disruptions due to pandemic lockdowns in eastern China and Russia’s invasion of Ukraine.
Taiwan’s Finance Ministry predicted July exports to increase by 10% to 13% from a year earlier.
Separately, the consumer price index was expected to have risen 3.51% in July from a year earlier, a slightly slower rate than 3.59% in June.
The inflation data will be released on Friday, followed by trade data on Monday.
(Poll compiled by Devayani Sathyan, Arsh Mogre and Carol Lee; Reporting by Yimou Lee, Ben Blanchard and Ellen Zhang; Editing by Shounak Dasgupta)
