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Industrial production up for 15th straight month in April

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Industrial production up for 15th straight month in April

Taipei, May 24 (CNA) Industrial production for April rose from a year earlier, marking the 15th consecutive month of year-on-year growth, as Taiwanese tech suppliers continued to enjoy solid global demand and the old economy sector saw their fundamentals recovering, the Ministry of Economic Affairs (MOEA) said Monday.

Data compiled by the MOEA showed that the April industrial production index rose 13.62 percent from a year earlier to 122.80 after a 16.06 percent year-on-year increase in March.

The sub-index for the export-oriented manufacturing sector, which accounts for more than 90 percent of total production, grew 14.24 percent from a year earlier to 124.78, also marking the 15th straight month of year-on-year growth, the data indicated.

On a month-on-month basis, however, the industrial production index fell 9.26 percent, with the sub-index for the manufacturing sector also down 9.88 percent, the MOEA said.

In the first four months of this year, industrial production in Taiwan rose 12.94 percent from a year earlier and production in the manufacturing sector rose 13.82 percent year-on-year, the MOEA added.

"Taiwan still benefited from strong global demand for tech devices in April," MOEA Department of Statistics deputy chief Huang Wei-chieh (黃偉傑) said. "The old economy sector, including machinery suppliers, kept riding the wave of a global economic recovery," he said.

In April, production by the electronic component industry rose 15.72 percent from a year earlier, marking the 17th consecutive month of double-digit growth, with production generated by semiconductor suppliers up 16.02 percent on the back of emerging technologies such as 5G applications, high performance computing devices and chips for the automotive industry, the MOEA said.

On the back of the rising need for remote work and online learning, which pushed up demand for devices such as notebook computers and Internet communication equipment amid the COVID-19 pandemic, the computer and optoelectronics industry saw production rising 6.70 percent from a year earlier in April, the MOEA added.

According to MOEA data, production generated by chemical raw materials, base metal and machinery manufacturers rose 15.89 percent, 15.94 percent and 26.03 percent, respectively, from a year earlier in April due to the global economic recovery.

Production posted by the auto and auto part industry soared 33.76 percent from a year earlier in April on strong sales in the local car market, as well as strong foreign demand for auto parts, the MOEA said.

Huang said the strong industrial production growth is expected to continue into May, when production in the manufacturing sector could rise 14.4 percent-17.8 percent from a year earlier due to the growing global economy, which is expected to boost Taiwan's outbound sales and offset the impact resulting from an escalation of domestically transmitted COVID-19 cases.

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