September industrial output picks up in Taiwan

2014-10-27

Taiwan’s industrial production index gained 10.3 percent year on year to 109.1 in September on the strength of a lower comparison base from last year and a recovering global economy, according to the Ministry of Economic Affairs Oct. 23.

“Output has been on the rise for eight months in a row, showing the industrial sector is picking up steam,” said Yang Kuei-hsien, deputy director-general of the MOEA Department of Statistics.

Among the five subindexes comprising the overall benchmark, manufacturing, which accounts for nearly 93 percent of the weighting, increased 11.03 percent from a year ago.

Construction surged 22.39 percent, while quarrying and mineral extraction and water supply also posted gains of 2.13 percent and 2.7 percent, respectively. Electricity and gas supply dropped 5 percent.

A breakdown of manufacturing reveals electronic components and parts were up 19.59 percent to an all-time high for three consecutive months; automobiles and parts gained 19.9 percent; computers, electronics and optical products climbed 20.95 percent; and machinery and equipment rose 21.42 percent.

For the first nine months of the year, industrial output lifted 5.6 percent, with the third quarter figure rising 7.73 percent from last year for a best-ever performance.

Yang said Taiwan’s industrial production is expected to build additional momentum in October as manufacturing further expands in line with the rebounding global economy and strong demand for mobile devices.

Separately, the MOEA said the latest commerce revenues hit a record NT$1.25 trillion (US$40.95 billion) in September, up 2.5 percent from a year ago.

By sector, retail gained 4.4 percent followed by wholesales at 2 percent. The food services and beverage sectors were down 0.8 percent as a result of the recent lard-based oil scandals.

The MOEA forecasts commerce to stick on the growth track throughout the rest of the year.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=223204&CtNode=413)