TAIPEI : Taiwan's export orders grew much faster than expected in February to a record high for the month bolstered by sustained technology demand, but the government warned of uncertainty due to the war in Ukraine and its impact on global trade.
It marked the 24th straight month of expansion, with the pace outperforming the median forecast of 12.75per cent growth in a Reuters poll. Growth has been supported by the work-from-home-trend during the pandemic as well as a global semiconductor shortage that has filled Taiwanese chip makers' order books.
Liu Jenq-Yu, an analyst at First Capital Management, estimated that Taiwan's sanctions on Russia, which it joined as part of a Western-led initiative, could reduce exports and export orders by around 3per cent.In January, export orders rose 11.7per cent from a year earlier to $58.87 billion, also a record high for that month.
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