Taiwan manufacturing hits all-time high in 2014

2015-04-01

Taiwan’s manufacturing sector reported all-time high revenues of NT$27.33 trillion (US$871.08 billion) in 2014, up 3.5 percent year on year, according to the Ministry of Economic Affairs March 30.

The MOEA attributed the encouraging result to a best-ever performance of the computer electronics and optical industry, which posted earnings of NT$8.88 trillion—a rise of 1.2 percent from a year ago. Electronic components and machinery equipment both registered second-top revenues, up 9.4 percent to NT$5.32 trillion and 7 percent to NT$1 trillion, respectively.

“Continuous popularity of mobile devices and the introduction of new applications for smartchips are major contributors to the strong showings of these industries,” an MOEA official said.

Although weak global oil prices helped spur Taiwan’s machinery exports and stabilize major economies worldwide, they also suppressed demand and prices for petrochemical materials.

Chemicals revenues inched up 0.5 percent to NT$2.13 trillion, while basic metals gained 5.9 percent to NT$1.38 trillion. Petroleum and coal products exhibited signs of strain, down 0.4 percent to NT$2.15 trillion—the second-best result on record but also the first decline in five years.

Taiwan’s manufacturing sector revenues reached NT$7.43 trillion in the fourth quarter last year, up 2.3 percent from the year before and also a record high.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=228883&CtNode=413)