April industrial output up 3.51 percent in Taiwan

2020/05/28

Taiwan’s industrial production index rose 3.51 percent year on year to 107.3 in April, highlighting the strength of the local electronics industry, according to the Ministry of Economic Affairs May 25.
 
 Manufacturing, which accounts for nearly 92 percent of industrial production, grew 4.15 percent from a year ago while quarrying and mineral extraction surged 21.89 percent. Conversely, water supply reported losses of 0.19 percent and electricity and gas supply dropped 5.35 percent.
 
 A breakdown of manufacturing revealed electronic components and parts up 22.15 percent, continuing a five-month double-digit gain, while computers, electronics and optical products saw a modest rise of 1.75 percent, with growth limited by weakening demand for camera lenses due to a decline in smartphone sales amid the COVID-19 pandemic.
 
 The electronics industry was the main driver of overall growth as it continues to benefit from emerging technologies such as 5G networks, artificial intelligence, cloud-based services and high-performance computing devices, the MOEA said. Also contributing to the rise were increased shipments of liquid crystal panels and chips caused by the recent spike in remote work and online learning, the ministry added.
 
 Demand for high-tech gadgets is expected to continue in May, supporting overall industrial production, the MOEA said, though it cautioned that coronavirus may continue to impact domestic production. Trade friction between China and the U.S. and low global oil prices may also cast uncertainties over the country’s economy going forward, the ministry added.

Source: Taiwan Today (https://taiwantoday.tw/index.php)