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Taiwan Oct export orders seen rising for twentieth straight month: Reuters ballot By Reuters

© Reuters. Cargo cranes are seen transferring containers at a container yard in Keelung, Taiwan, November 18, 2020. REUTERS/Ann Wang

TAIPEI (Reuters) – Taiwan’s export orders doubtless rose in October for the twentieth straight month, a Reuters ballot confirmed on Friday, buoyed by sturdy chip demand because the world emerges from the pandemic, whereas the year-end vacation buying season additionally aided sentiment.

The median forecast from a ballot of 13 economists expects export orders to leap 22% from the year-ago interval. Forecasts for development ranged from 15.8% to as excessive as 29%.

Taiwan’s export orders are a number one indicator of demand for hi-tech devices and Asia’s exports, and sometimes lead precise exports by two to 3 months.

The island’s export orders, a bellwether of world expertise demand, leapt 25.7% year-on-year to $62.9 billion in September, a historic excessive and stronger than anticipated on demand for brand new smartphones and chips.

Taiwan’s producers, together with the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key a part of the worldwide provide chain for expertise giants corresponding to Apple Inc (NASDAQ:).

The information for October can be launched on Monday.

(Ballot compiled by Carol Lee; Reporting by Ben Blanchard; Enhancing by Sherry Jacob-Phillips)

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