Manufacturing output last quarter rose for a sixth straight quarter given growth in global end-market demand, development of emerging technologies, digital transformation and improvement in supply chain disruptions, the Ministry of Economic Affairs said yesterday.
Rising costs of international raw materials due to Russia’s invasion of Ukraine also helped push output of the local manufacturing sector upward in the first quarter, the ministry said in a statement.
Manufacturing output increased 16.01 percent year-on-year to NT$4.16 trillion (US$139.74 billion), the highest number on record for the January-to-March period, the ministry said.
Photo courtesy of Chi Mei Corp via CNA
The increase last quarter was led by the electronic components industry — the manufacturing sector’s most important segment — which climbed 16.9 percent to NT$1.27 trillion, the highest ever for the period, it said.
Semiconductor production grew 28.74 percent to NT$622.9 billion, as demand for chips used in 5G, high-performance computing, the Internet of Things and automotive applications remained strong, the ministry said.
However, LCD production posted an annual decrease of 5.24 percent to NT$203.2 billion given lower panel prices compared with a year earlier, it added.
Output from the computer, electronics goods and optical components industries expanded 19.03 percent on an annual basis to NT$235 billion on the back of increased production of servers, solid-state drives and networking equipment to meet robust demand for cloud computing services, the ministry said.
Traditional industries such as base metals, chemical materials, petroleum and coal experienced rises in output of 22.15 percent, 12.91 percent and 39.48 percent respectively to NT$459.9 billion, NT$514.9 billion and NT$242.2 billion last quarter from a year earlier due to higher international raw material costs, the ministry said.
As orders increased in semiconductor, automation equipment and 5G-related industries, the machinery equipment industry’s output rose 14.46 percent to NT$194.3 billion last quarter, it said.
However, automobile and auto parts output declined 0.83 percent to NT$96.6 billion, as domestic automakers faced persistent shortages of components and tougher emissions regulations on diesel-powered trucks, it said.
The ministry said it is positive about the outlook for the manufacturing sector, as companies continue to develop new technologies, chipmakers prepare to expand capacity and major economies implement infrastructure projects.
However, growth headwinds lie ahead for the sector, the ministry said, citing supply chain bottlenecks, sea port congestion, the COVID-19 pandemic, lockdowns in China and the war in Ukraine.
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