TAIPEI- Taiwan’s exports likely rose for the 21st straight month in March but at a slower pace, a Reuters poll showed, boosted by sustained demand for chips and hi-tech gadgets.
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 have risen 21 percent from a year earlier, a Reuters poll of 17 analysts showed, slower than the 34.8 percent leap in February.
The export forecasts ranged between a rise of 10 percent and 25 percent, reflecting uncertainties over the global economic recovery and ongoing supply chain disruptions caused by Russia’s invasion of Ukraine.
Separately, the consumer price index (CPI) was expected to have risen 2.9 percent from a year earlier, a faster clip from an increase of 2.36 percent in February.
Taiwan’s exports rose for a 20th straight month in February, and at a much higher rate than forecast, boosted by continued strong tech demand, though the central bank warned supply chains could be impacted if the war in Ukraine lasts a long time and becomes worse.
Exports last month rose 34.8 percent from a year earlier to $37.45 billion, the Ministry of Finance said.
A Reuters poll of analysts had forecast a rise of 15.5 percent for the month, compared with a 16.7 percent increase in January.
Exports rose 29.4 percent in 2021 to a record high, supported by robust global demand for the island’s tech products from semiconductors to telecommunications equipment.
The ministry attributed the February growth to strong demand for electronic components as well as chips, coupled with the easing of some material shortages and the effect of delayed shipments.
The first week of February was marked by the Lunar New Year holiday. – Reuters
