BOOST FOR SUPPLIERS? ANZ said that new iPhones and devices from other brands would be tailwinds for Taiwan’s tech industry and improve this year’s exports outlook
Date: Oct 03, 2020
By Crystal Hsu / Staff reporter
Taiwan’s export growth might accelerate for the rest of this year as demand for consumer electronics picks up, benefiting local firms in the supply chains of global technology titans, Australia and New Zealand Banking Group (ANZ) said yesterday.
The Ministry of Finance on Wednesday next week is to disclose export data for last month after the critical economic gauge expanded 8.3 percent year-on-year to a record US$31.17 billion in August, driven by demand for electronics before the high season and stockpiling by China’s Huawei Technologies Co (華為) ahead of sales bans.
The same factors would continue to shore up tech exports, allowing overall outbound shipments to register a 5.5 percent increase, lower than the market consensus of 7.8 percent, ANZ said.
Export orders, a gauge of actual exports over the subsequent one to three months, rose 12.4 percent and 13.6 percent in July and August respectively from their levels a year earlier, which is a reason for the sanguine projection, it said. [FULL STORY]