February 11, 2019 / 5:49 AM / 6 months ago

Taiwan's Jan exports likely to shrink for third month: Reuters poll

FILE PHOTO: A man rides a motorbike near Kaohsiung Port, Taiwan August 7, 2017. REUTERS/Tyrone Siu

TAIPEI (Reuters) - Taiwan’s exports are expected to have contracted 2.93 percent in January from a year earlier, according to the median forecasts of 14 analysts polled by Reuters.

The trade-reliant island’s exports dropped 3 percent in December from a year earlier.

Taiwan is one of Asia’s major exporters, especially of technology goods, and its export trend is a key gauge of global demand for technology gadgets worldwide.

Taiwan’s annual inflation rate in January likely increased to 0.4 percent from a mild contraction of 0.05 percent the previous month, the poll showed.

Export orders in December had suffered their steepest fall in more than two and a half years, increasing concerns about global demand for the electronic gadgets pivotal for Taiwan’s economy.

Poll compiled by Carol Lee; Reporting by Yimou Lee; Editing by Sherry Jacob-Phillips

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