💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Taiwan's export orders seen contracting at faster pace in Nov- Reuters poll

Published 12/18/2022, 10:16 PM
Updated 12/18/2022, 10:21 PM
© Reuters. FILE PHOTO: Trucks wait to be loaded on with containers at a port in Keelung, Taiwan, June 10, 2020. REUTERS/Ann Wang
AAPL
-

TAIPEI (Reuters) - Taiwan's export orders likely contracted again in November, a Reuters poll showed on Monday, as global demand for the island's technology-related goods cools and at a faster clip than the previous month.

The median forecast from a poll of 18 economists was for export orders to fall 11.2% from a year earlier. Forecasts ranged for a contraction of between 6.26% and 20%.

Taiwan's export orders, a bellwether of global technology demand, fell 6.3% in October, dropping more severely than expected on weak consumer demand hit by inflation and aggressive interest rate hikes.

The government has predicted November's export orders to be between 14.5% and 17.6%, lower than those seen in the year-ago period.

Taiwan's export orders are a leading indicator of demand for hi-tech gadgets and Asian exports, and typically lead actual exports by two to three months.

© Reuters. FILE PHOTO: Trucks wait to be loaded on with containers at a port in Keelung, Taiwan, June 10, 2020. REUTERS/Ann Wang

The island's manufacturers, including the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key part of the global supply chain for technology giants including Apple Inc (NASDAQ:AAPL).

The data for November will be released on Tuesday.

(Poll compiled by Dhruvi Shah, Devayani Sathyan and Carol Lee; Reporting by Ben Blanchard; Editing by Sherry Jacob-Phillips)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.