Taiwan’s export orders to record five-month streak of gains
Taiwan’s export orders likely advanced in July, tallying five months of consecutive gains, a Reuters survey showed. The upbeat record could be attributed to strong demand for technology products as people were prompted to stay at home during the coronavirus pandemic.
Thirteen economists forecast that the country’s export orders will advance 3.7% from a year ago. Their growth outlook ranges from 0.4% to 7%.
June had seen orders advancing 6.5% from a year earlier. This came to be the most rapid pace in almost two years as work-from-home arrangements increased demand for telecommuting products such as laptops.
Export orders of Asia’s seventh-largest economy remain to be a leading indicator for Asian exports and hi-tech devices, leading actual exports by two to three months.