The production value of Taiwanese manufacturers hit a new record quarter, reaching NT$4.19 trillion (US$150.47 billion) last quarter, up 29.68 percent, amid steady and growing demand in technology and traditional sectors, Ministry of Economic Affairs (MOEA) data released yesterday said.
“As the global economy rebounds and international commodity prices remain high, Taiwanese manufacturers had a record quarter of sales,” Department of Statistics Deputy Director-General Huang Wei-jie (黃偉傑) said. “This is a record for single-quarter sales and markes four continuous quarters for growth.”
The traditional sector led the growth, with strong downstream demand and high international prices pushing up revenue, the ministry said.
Basic metals grew by 78.91 percent, chemical materials grew by 66.87 percent and petrochemical products grew by 48.92 percent year-on-year. Mechanical equipment rose on demand from semiconductor and 5G demand, with industrial output rising 27.36 percent.
Meanwhile, consumers who had put off car purchases during the a local COVID-19 outbreak poured began to buy, causing the auto and parts market to increase by 15.04 percent year-on-year.
“The pent-up demand has boosted the domestic auto market, in addition to the rise in the US and European auto markets,” Huang said.
The information communication technology sector saw electronic components hit an all-time high last quarter, with production value up 21 percent year-on-year. Semiconductors continue to be in strong demand for 5G, AIoT and automotive applications, growing by 19.71 percent to NT$545.7 billion to another record quarter.
The ministry anticipates continued growth for the current quarter, Huang said.
“We are still under the influence of COVID-19, especially with the uncertainty of new variants and the possibility that the virus could spike again in the winter, and the dual-control policy in China is another source of uncertainty,” Huang said. “However, we expect steady growth for the global economy.”
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