Mon, Jan 08, 2018 - Page 15 News List

Contact lens output hits record high of NT$16.7bn

Staff writer, with CNA

The value of goods made by domestic contact lens makers in the first 10 months of last year jumped more than 30 percent year-on-year to hit an all-time high, Ministry of Economic Affairs data showed.

The contact lens industry had an output value of NT$16.7 billion (US$565.7 million) during the period, up 33.2 percent from the same period a year earlier and higher than the record of NT$16.1 billion set by the sector for the whole of 2016.

The surge in output value was the result of new product launches, such as lenses that are more breathable due to greater oxygen transmission capabilities, the ministry said.

Taiwanese manufacturers have also introduced cosmetic lenses with a wide range of colors in a bid to appeal to younger people, while some brands have unveiled products that cater to seniors, the ministry said.

The sector might have ended the year with an output value of more than NT$20 billion, which would obliterate the 2016 record, it added.

Contact lenses accounted for 59.7 percent of the eyewear industry’s total output during the 10-month period and reached NT$28 billion, an increase of 21.6 percent from the same period a year earlier, the ministry said.

A high percentage of manufacturers’ output continues to be exported, it added.

According to Customs Administration statistics, Taiwan exported about US$330 million worth of contact lenses in the first 11 months of last year, up 24 percent from a year earlier.

During the 11-month period, Japan was the largest buyer of Taiwan’s contact lenses, accounting for 65.8 percent of total exports, ahead of China (16.2 percent), the US (5.2 percent) and Hong Kong (3.5 percent).

The entire domestic eyewear sector is expected to report a new high of NT$30 billion in output from last year, up from NT$28.7 billion in 2016, the ministry said.

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