Taiwan’s export orders likely rose in July for the 17th consecutive month, a Reuters poll showed on Thursday, buoyed by strong sustained demand for technology products during lockdowns as millions of people work from home and take classes remotely.

The median forecast from a poll of 12 economists expects export orders to jump 20.85% from the year-ago period. Forecasts for growth ranged from 14% to 30%.

Taiwan’s export orders are a leading indicator of demand for hi-tech gadgets and Asia’s exports, and typically lead actual exports by two to three months.

The island’s June export orders, a bellwether of global technology demand, leapt 31.1% year-on-year to $53.73 billion. read more

Taiwan’s manufacturers, such as the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), , are a key part of the global supply chain for technology giants including Apple Inc