Taiwan's export orders likely fell for a third straight month in March and at a much faster pace, a Reuters poll showed, as the coronavirus pandemic hurts global demand for electronics which are pivotal to the island's export-reliant economy.
FILE PHOTO: Shipping containers are seen at Keelung port, northern Taiwan, March 20, 2016. REUTERS/Tyrone Siu/File Photo
TAIPEI - Taiwan’s export orders likely fell for a third straight month in March and at a much faster pace, a Reuters poll showed, as the coronavirus pandemic hurts global demand for electronics which are pivotal to the island’s export-reliant economy. The median forecast from the poll of 12 economists was for export orders to contract 10.15% from last year. Forecasts widely ranged from a decline of 2% to 20%.
February orders slipped 0.8% but at a far slower pace than January’s 12.8% decline, amid worries that the coronavirus outbreak would hurt the global economy and dent demand for consumer electronics. Taiwan’s export orders are a leading indicator of demand for Asia’s exports and hi-tech gadgets, and typically lead actual exports by two to three months.
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