TAIPEI: Taiwan’s exports in January likely fell for the fifth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and the Covid situation in China impacting tech demand, 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 were estimated to have dropped 20% in January from a year earlier, a Reuters poll of 18 analysts showed yesterday, a faster rate than the 12.1% annual contraction seen in December.
The export forecasts varied widely, projecting a contraction of between 12.2% and 30%. The variation reflected uncertainties over the global economy, supply chain disruptions due to Covid cases in China, and the fallout of the Russia-Ukraine war. — Reuters
