TAIPEI- Taiwan’s exports likely rose for the 18th straight month in December, a Reuters poll showed, boosted by sustained demand for chips and hi-tech gadgets and the year-end shopping season.
Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia’s major exporters of technology goods, and the trade data is seen as an important gauge of world demand for tech gadgets.
Exports last month were expected to rise 26.7 percent from a year earlier, a Reuters poll of 13 analysts showed, slower than the 30.2 percent gain in November.
The export forecasts ranged between a rise of 23 percent and 30 percent, reflecting uncertainties over the global economic recovery and ongoing supply chain disruptions caused by the COVID-19 pandemic.
Separately, the consumer price index (CPI) was expected to have risen 2.7 percent from a year earlier, compared with an increase of 2.84 percent in November.
Taiwan’s exports rose for a 17th straight month in November to a new high as its manufacturers gained from sustained demand for consumer electronics in the coming year-end shopping season and amid a global shortage of computer chips.
Exports last month were the highest monthly figure on record, rising 30.2% from a year earlier to $41.58 billion, the Ministry of Finance said on Tuesday.
A Reuters poll of analysts had forecast a rise of 23.05% for November, compared with a 24.6 percent increase in October.
The ministry attributed the growth to strong demand for tech products in the festive season in which vendors traditionally launch new models such as smartphones.
The growth was also supported by robust demand for chips, a shortage of which has crippled car plants globally and is affecting consumer electronics.
Exports of telecommunication and electronics products rose 19.5% in November to reach $5.69 billion, with semiconductor exports growing 26.7 percent from a year earlier. — Reuters
