Taiwan export decline seen picking up pace in November: Reuters poll




  • In Business
  • 2022-12-05 03:37:38Z
  • By Reuters
 

TAIPEI (Reuters) - Taiwan's exports likely dropped in November for the third month in a row and at a much sharper pace, amid fears of a global recession, uncertainties due to the war in Ukraine, 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. The trade data is seen as an important gauge of world demand for tech gadgets.

Exports last month were estimated to have dropped 6.7% from a year earlier, a Reuters poll of 16 analysts showed on Monday, faster than the 0.5% contraction in October.

The export forecasts varied widely, suggesting a contraction of between 0.67% and 10.7%, reflecting uncertainties over the global economy, supply chain disruptions due to pandemic lockdowns and power shortages in China, as well as the fallout of Russia and Ukraine war.

Taiwan's finance ministry had predicted November exports could contract in a range of 5% to 8% from a year earlier.

Separately, the consumer price index was expected to have risen 2.5% in November from a year earlier, slower than the 2.72% in October, according to the poll.

The inflation data will be released on Tuesday followed by the trade data on Wednesday.

(Poll compiled by Veronica Khongwir and Carol Lee; Reporting by Ben Blanchard)

COMMENTS

More Related News

Odds
Odds 'very high' of U.S. military conflict with China, top Republican says
  • US
  • 2023-01-29 15:00:08Z

A top Republican in the U.S. Congress said on Sunday the odds of conflict with China over Taiwan "are very high," after a U.S. general caused consternation...

Iran condemns
Iran condemns 'cowardly' drone attack on defence site
  • World
  • 2023-01-29 14:38:19Z

Iran on Sunday condemned a "cowardly" night-time drone attack that targeted a defence ministry site, at a time of high tensions over its nuclear programme...

NATO
NATO's Stoltenberg in South Korea to deepen ties in Asia
  • US
  • 2023-01-29 07:21:35Z

SEOUL (Reuters) -NATO Secretary General Jens Stoltenberg arrived in South Korea on Sunday, the first stop on a trip that will include Japan and is aimed at...

War with China over Taiwan is likely in 2025, warns U.S. General Mike Minihan:
War with China over Taiwan is likely in 2025, warns U.S. General Mike Minihan: 'I hope I am wrong'

U.S. General Mike Minihan just outlined why China's Xi Jinping will likely launch an invasion of Taiwan in 2025.

Brutality of Russia
Brutality of Russia's Wagner gives it lead in Ukraine war
  • World
  • 2023-01-27 17:40:00Z

Fierce battles in eastern Ukraine have thrown a new spotlight on Russia's Wagner Group, a private military company led by a rogue millionaire with longtime...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business