18.05.201517:58:00UTC+00Taiwan Export Orders Likely Declined; Current Account Surplus at a Record High

Taiwan is scheduled to release April export orders and Q1 current account (C/A) data on 20 May. According to the estimations the current account surplus reached a record USD 21bn, boosted by a strong trade surplus. 
Rising tourist arrivals likely also boosted the service account, supporting the current account balance. On the other hand, export orders are expected to have dropped 3.5% y/y in April, the second decline in three months. 
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. 
"We expect overseas orders to be dampened further by weak demand from China, which is Taiwan's largest export market", says Standard Chartered.