TAIPEI- Taiwan’s export orders likely rose in February for a 12th straight month, a Reuters poll showed, continuing to rocket ahead buoyed by on-going demand for technology products during coronavirus-induced lockdowns.
According to the median forecast from a poll of 12 economists, export orders would rise 45.1 percent from the year-ago period. Growth forecasts ranged from 10.3 percent to as high as 57 percent.
Taiwan’s export orders are a leading indicator of demand for Asia’s exports and for hi-tech gadgets, and typically lead actual exports by two to three months.
Export orders, a bellwether of global technology demand, surged 49.3 percent to $52.72 billion in January.
Taiwan’s manufacturers such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chip maker, are a key part of the global supply chain for technology giants such as Apple Inc.
The data for February will be released on Monday.