Taiwan July exports seen growing at slower pace amid rising uncertainties – Reuters Poll

Taiwan July exports seen growing at slower pace amid rising uncertainties - Reuters Poll

TAIPEI : Taiwan’s exports likely rose for the 25th straight month in July though at a slower pace than in June, amid fears of a global recession, uncertainties due to the Ukraine conflict and COVID-19 flare-ups in China, according to a Reuters poll.

Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia’s leading exporters of technology goods, with the trade data seen as an important gauge of world demand for tech gadgets.

Exports last month were estimated to have risen 11.65 per cent from a year earlier, a Reuters poll of 10 analysts showed on Thursday, slower than the 15.2 per cent jump in June.

The export forecasts ranged between 4.5 per cent and 19.0 per cent higher, reflecting uncertainties over the global economic recovery, supply chain disruptions due to pandemic lockdowns in eastern China and Russia’s invasion of Ukraine.

Taiwan’s Finance Ministry predicted July exports to increase by 10 per cent to 13 per cent from a year earlier.

Separately, the consumer price index was expected to have risen 3.51 per cent in July from a year earlier, a slightly slower rate than 3.59 per cent in June.

The inflation data will be released on Friday, followed by trade data on Monday.

(Poll compiled by Devayani Sathyan, Arsh Mogre and Carol Lee; Reporting by Yimou Lee, Ben Blanchard and Ellen Zhang; Editing by Shounak Dasgupta)

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