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Economic Indicators6 hours ago (Oct 05, 2020 03:00AM ET)
© Reuters. FILE PHOTO: Cargo cranes are seen at Keelung Port during sunset hour in Keelung,
TAIPEI (Reuters) – Taiwan’s exports likely rose for a third straight month in September, up 6.6% from a year earlier as people bought electronic goods to work from home during the COVID-19 pandemic, according to a median forecast of 12 analysts polled by Reuters.
Taiwan is one of Asia’s major exporters, especially of technology goods, and its export trends are a key gauge of demand for tech gadgets worldwide. Its largest trading partner is China.
Forecasts ranged widely between a growth of 3.8% and 21.6% in the midst of uncertainties over the coronavirus outbreak that has disrupted global supply chains and sent major economies into recession.
Taiwan’s exports have been helped by demand for laptops and tablets to support the work-from-home trend during the pandemic that has forced millions around the world to abandon their offices.
Exports in August jumped 8.3% from a year earlier to $31.17 billion, the highest monthly tally on record, boosted by Chinese telecom giant Huawei Technologies Co Ltd [HWT.UL] rushing to get in orders at Taiwanese firms before they have to comply with U.S. curbs that took effect last month.
Imports were seen up 3%, after rising 8.5% in August.
Trade data will be released on Wednesday.
The poll also showed deflationary pressures were expected to ease somewhat. The consumer price index (CPI) was tipped to fall 0.3% from a year earlier, compared with a drop of 0.33% in August. Inflation data will be released on Thursday.
(Poll compiled by Carol Lee; Reporting by Ben Blanchard; Editing by Subhranshu Sahu)
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