© Reuters. Shipping containers are seen at Keelung Port, northern Taiwan, on March 20, 2016. REUTERS / Tyrone Siu
TAIPEI (Reuters) – Taiwan’s export orders grew more than expected in July and the government said the outlook for the island’s technology products remains strong in demand for high-end chips, all and that he warned that the spread of COVID-19 variants could further alter global supply chains.
Taiwan’s export orders, which represent global demand for technology, jumped 21.4% from last year to $ 55.3 billion in July, according to data from the Ministry of Economic Affairs on Friday.
This was the 17th month of expansion, and the pace was faster than the average forecast of a 20.85% increase in a Reuters poll.
The ministry attributed the performance to the demand for 5G telecommunications equipment and semiconductors.
Demand for electronics such as laptops to support the “home economy” also remained strong, with the COVID-19 pandemic still restricting the movement of millions around the world, the ministry added.
In June, export orders rose 31.1% from a year earlier, to $ 53.73 million.
Taiwanese companies such as Foxconn and Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) are the leading suppliers of Apple Inc. (NASDAQ 🙂 and other global technology companies.
The ministry warned of uncertainty about the spread of COVID-19 variants around the world, and said stricter antivirus measures in some countries were affecting supply chains.
However, it saw a rise in countries accelerating COVID-19 vaccinations, in addition to strong continued demand for 5G and the automotive sector, which has been severely affected by the scarcity of chips.
It expects export orders in August to increase by 20.9% to 24.2% over the previous year.
U.S. orders jumped 16.5% in July from the previous year, a slower rate of expansion compared to 24% in June, while Chinese orders rose a 20.1%, compared to a gain of 36.7% the previous month.
Orders from Europe increased by 14.3%, while those from Japan increased by 27.6%.
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