Taiwan’s industrial production grows for 3rd straight month

Taipei-Taiwan’s industrial production rose year-on-year for the third consecutive month in July on the back of strong global demand for electronic gadgets at a time when the global economy remains on track for a recovery, statistics released by the Ministry of Economic Affairs (MOEA) showed Wednesday.

The data indicated that the industrial production index rose 2.38 percent in July from a year earlier to 111.84, after an increase of 3.53 percent in June.

The data showed that Taiwan has benefited from peak season in the global high-tech industry in the third quarter by boosting exports. The local old economy sector has also been riding the wave of a rebound in product prices, with production value rising, market analysts said.

The manufacturing sector sub-index, which accounts for more than 90 percent of total industrial production, grew 2.94 percent from a year earlier to 113.45, marking the 15th consecutive month of year-on-year growth, the data indicated.

Source: Overseas Community Affairs Council