Taiwan's exports likely to rise for 26th straight month in August

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Taiwan's exports likely to rise for 26th straight month in August

A cargo ship is pictured at a port in Keelung.

TAIPEI Reuters - Taiwan's exports likely rose for the 26th straight month in August, although at a slower pace than in July due to fears of a global recession, uncertainties due to the Ukraine conflict and COVID 19 flare-ups in China.

Taiwan, a global hub for chip production and a key supplier to Apple Inc, is one of Asia's leading exporters of technology goods. Trade data is a good indicator of world demand for tech gadgets.

Exports last month were estimated to have increased 9.5% from a year earlier, a Reuters poll of 13 analysts showed on Friday, slower than the 14.2% jump in July.

The forecasts for exports ranged between 3% and 12.06%, reflecting uncertainty over the global economy, supply chain disruptions due to the Pandemic lock-downs in China and Russia's invasion of Ukraine.

Taiwan's Finance Ministry predicted that exports would increase by 8% to 12% from a year ago.

In August, the consumer price index was expected to have risen by 3.05%, from a year earlier, a slightly slower rate than 3.36% in July.

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