Taiwan’s export orders are likely to have contracted again in December at an increasing rate as the island’s technology sector feels the hit of cooling global demand.
Export orders are estimated to have fallen by over 25% from a year earlier, according to forecasts by 15 economists.
Taiwan’s export orders, a bellwether of global technology demand, fell by a worse-than-expected 23.4% in November.
Tech Slump
The government last month predicted December’s export orders would be between 27.8% and 30.8% lower than those reported a year earlier.
Taiwan’s export orders are a leading indicator of demand for high-tech gadgets and Asian exports, and typically lead actual exports by two to three months.
The island’s manufacturers, including the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key part of the global supply chain for technology giants including Apple Inc.
- Reuters, with additional editing from Alfie Habershon
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