Competition hits output
The total output of Taiwan’s textile industry declined 2.8 percent last quarter from a year ago to NT$115 billion (US$3.85 billion) because of increasing competition from China, South Korea and Vietnam, the Industry and Technology Intelligence Services (ITIS) and the Taiwan Textile Research Institute (TTRI) said in a joint report. The output of textile products, which include synthetic fibers and garments, was also affected by high inventories in Asia, which had caused prices to fall in the first quarter, TTRI analyst Liu Yu-cheng (劉育呈) said by telephone yesterday. Nonetheless, total annual output is expected to rise 1.7 percent to NT$460 billion this year, as the quantitative easing policies conducted by governments around the world are expected to boost demand for textile products in the US, Europe and emerging markets, the report said.
Report predicts output boost
The output of Taiwan’s specialty chemicals sector will grow marginally this year despite global economic uncertainties, the Industry and Technology Intelligence Services (ITIS) forecast in a report yesterday. ITIS said in the report that the output value of the sector is expected to reach NT$678.54 billion (US$22.79 billion) this year, up about 6 percent from NT$639.87 billion a year ago. Specialty chemicals include electronic chemicals, adhesive chemicals, plastic additives, dyes and pigments, the report said.