Taiwan August Exports Seen Up for Second Month in Row - Reuters Poll
TAIPEI (Reuters) - Taiwan's exports likely rose 1.6% in July from a year earlier, up for a second straight month as the work-from-home trend during the COVID-19 pandemic boosts demand for electronic goods, according to the median forecasts of 13 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 from a decline of 1.4% to growth of 5.1% in the midst of uncertainties over the coronavirus outbreak that has disrupted global supply chains and hit the growth outlook for the island's tech manufacturers.
Exports in July edged up 0.4% from a year earlier to $28.2 billion, rebounding into positive territory after four months of falls as virus-induced lockdowns slammed consumer demand.
Imports were seen up 0.7%, after falling 6.8% in July. The data will be released on Monday.
The poll also showed deflationary pressures were expected to ease somewhat. The consumer price index (CPI) was tipped to fall 0.3% for a year earlier, compared with a drop of 0.52% in July. Inflation data will be released on Tuesday.