Monday, 21 August 2017

Taiwan July export orders grow for 12th month but China, U.S. demand slows

Taiwan's export orders rose for the 12th straight month in July, fueled by solid demand for smartphones and other tech gadgets as global retailers and their suppliers prepare for peak-year end shopping season.

Solid demand for Asia's exports, particularly electronics, helped drive stronger-than-expected economic expansion across most of the region in the second quarter, and has prompted Taiwan to raise its 2017 growth forecast to the strongest in years.
Taiwan last week bumped up its forecast for this year to 2.11 percent from 2.05 percent seen in May, and predicted further gains in 2018.

July export orders jumped 10.5 percent year-on-year, government data showed on Monday.
While that was slightly slower than the 12.25 percent growth analysts had expected, and the 13 percent seen in June, the economics ministry predicted export orders by value would pick up again in August as retailers start stocking up their warehouses and shelves.

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