Taiwan is scheduled to release April export orders and Q1 current account (C/A) data on 20 May. The C/A surplus reached a record USD 21bn, boosted by a strong trade surplus. Rising tourist arrivals likely also boosted the service account, supporting the C/A balance. On the other hand, export orders are likely to have dropped 3.5% y/y in April, the second decline in three months, according to Standard Chartered. Although overseas tech orders likely gained y/y on steady demand, orders for petroleum products, plastics and chemical materials were probably impacted by weak global oil prices. The overseas orders are expected to be dampened further by weak demand from China, which is Taiwan’s largest export market.
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