Industrial production in Taiwan rose more than 13 percent from a year earlier in August on the back of solid global demand for both tech and old economy items, marking the 19th consecutive month of year-on-year increases, according to the Ministry of Economic Affairs (MOEA).
Data compiled by the MOEA showed that the industrial production index for August rose 13.69 percent from a year earlier to 136.76, the highest ever, after rising 14.36 percent year-on-year in July.
The sub-index for the manufacturing sector, which accounts for more than 90 percent of the country's total industrial production, also rose 14.62 percent from a year earlier to 138.34, also marking the 19th straight month of year-on-year growth, the data indicated.
Huang Wei-chieh (???), deputy director of the MOEA's Department of Statistics, said demand for tech gadgets appears robust as many international brands unveiled new products, while emerging technologies such as 5G applications, the Internet of Things and automotive electronics, pushed up shipments of semiconductors and other electronic components.
With the global economy recovering, Huang said, raw materials suppliers benefited from the uptrend and saw their sales continue to improve.
In August, production posted by the electronic components industry rose 14.91 percent, marking the 21st consecutive month of double digit growth.
This reflected the debut of new technologies, with production generated by semiconductor and flat panel suppliers up 11.90 percent and 19.16 percent, respectively, the MOEA said.
Production posted by computer and optoelectronics makers rose 8.01 percent from a year earlier in August, when sales of electronic controlling devices for car use and new virtual reality and solid storage devices pushed up shipments, the MOEA added.
The 8 percent growth, which underperformed industrial production as a whole, came after a relatively low comparison base over the same period of last year and a fall in demand for gadgets used in the stay-at-home economy with more and more returning to offices or schools, Huang said.
Production in the chemical raw material, base metal, machinery and auto/auto parts industries rose 17.22 percent, 18.14 percent, 31.61 percent and 29.86 percent, respectively, from a year earlier in August, according to the MOEA.
In the first eight months of this year, the industrial production index rose 14.42 percent from a year earlier to 128.16 with the sub-index for the manufacturing sector up 15.43 percent year-on-year at 130.06, the MOEA's data showed.
Looking ahead, Huang said production in the manufacturing sector is expected to grow 7.9-12.3 percent from a year earlier in September and rise 12.6 percent in the third quarter of the year.
Source: Focus Taiwan News Channel