February industrial output up 3.32 percent in Taiwan

2015-03-25

Taiwan’s industrial production index gained 3.32 percent year on year to 91.21 in February, underscoring the strength of the local semiconductor industry, according to the Ministry of Economic Affairs March 23.

“The figure is the second highest on record for the period despite fewer working days in the month due to the Lunar New Year holidays,” said Yang Kuei-hsien, deputy director-general of the MOEA Department of Statistics.

Of the five subindexes comprising the overall benchmark, manufacturing—worth nearly 93 percent of the weighting—picked up 3.55 percent from a year ago.

Construction surged 40.57 percent, while quarrying and mineral extraction and water supply posted gains of 9.36 percent and 1.96 percent, respectively. Electricity and gas supply dropped 9.73 percent.

A breakdown of manufacturing revealed electronic components and parts up 10.58 percent, continuing a seven-month double-digit growth trend, while computers, electronics and optical products climbed 16.23 percent for a ninth consecutive double-digit gain.

Machinery and equipment rose 5.16 percent on the back of booming equipment investment. Chemical materials moved up 1.67 percent, the first gain in seven months, as a result of inventory stock-ups prior to annual maintenance shutdowns by petrochemical plants.

Yang said Taiwan’s industrial production is expected to gain 5 percent for the first quarter of the year as manufacturing further expands in line with the rebounding global economy and rising demand for mobile devices.

Separately, the MOEA said Taiwan’s commerce revenues inched up 0.9 percent to NT$1.05 trillion (US$33.48 billion) in February, the second best for the period.

The retail and food services, as well as beverage sectors, gained 10.7 percent, while wholesale dropped 3.7 percent. The ministry forecasts commerce to remain stable in March, even with the traditional dip in retail activity following the New Year shopping spree.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=228637&CtNode=413)