The production value of the nation’s manufacturing sector last quarter plunged 15.01 percent on an annual basis to NT$3.16 trillion (US$96.17 billion) — its worst showing since the first quarter of 2010 — the Ministry of Economic Affairs said yesterday.
The figure shows that the sector’s decline has accelerated from the second quarter’s 9.21 percent fall, and marks the steepest decline since the global financial crisis in 2009, the ministry said.
On a quarterly basis, the sector’s production value declined 5.14 percent.
“The manufacturing sector’s production value in the past quarter was heavily influenced by the fall in global crude oil prices and a decline in the value of basic metals,” Department of Statistics Deputy Director-General Yang Kuei-hsien (楊貴顯) said by telephone, adding that the drop in oil prices affected demand for Taiwan’s petrochemical products.
“Average oil prices in the third quarter plunged more than 50 percent on an annual basis,” he said.
Due to its economic slowdown, China’s third-quarter orders for Taiwan’s petrochemical products fell steeply from the same period last year, Yang said.
As a result, the production value of the nation’s petrochemical products plummeted 25.13 percent on a yearly basis, he said.
The production value of the nation’s basic metals dropped 27.55 percent year-on-year in the July-to-September quarter, mainly due to a fall in average selling prices and a global oversupply of stainless steel, Yang said.
The electronic components industry, which is the pillar of the nation’s manufacturing sector, saw production value drop 8.45 percent last quarter on an annual basis due to soft demand for consumer electronics products and fierce global competition, he said.
Within the electronic components industry, the production value of flat panels fell 20.27 percent year-on-year and that of machinery goods slowed 7.33 percent in the last quarter, the ministry’s data showed.
The solar power industry was one of the few bright spots in the nation’s manufacturing sector last quarter, Yang said, with production value increasing both annually and quarterly.
“Taiwan’s solar power industry has slowly moved out from the shadows of the US’s anti-dumping tariffs issue. In addition, China’s demand for the nation’s solar power is growing strongly,” Yang said.
Robust demand for Taiwan’s solar power products is expected to maintain into this quarter, he said.
Tropical Storm Gaemi strengthened into a typhoon at 2pm yesterday, and could make landfall in Yilan County tomorrow, the Central Weather Administration (CWA) said yesterday. The agency was scheduled to issue a sea warning at 11:30pm yesterday, and could issue a land warning later today. Gaemi was moving north-northwest at 4kph, carrying maximum sustained winds near its center of up to 118.8kph and gusts of 154.8kph. The circumference is forecast to reach eastern Taiwan tomorrow morning, with the center making landfall in Yilan County later that night before departing from the north coast, CWA weather forecaster Kuan Shin-ping (官欣平) said yesterday. Uncertainty remains and
SEA WARNING LIKELY: The storm, named Gaemi, could become a moderate typhoon on Wednesday or Thursday, with the Taipei City Government preparing for flooding A tropical depression east of the Philippines developed into a tropical storm named Gaemi at 2pm yesterday, and was moving toward eastern Taiwan, the Central Weather Administration (CWA) said. Gaemi could begin to affect Taiwan proper on Tuesday, lasting until Friday, and could develop into a moderate typhoon on Wednesday or Thursday, it said. A sea warning for Gaemi could be issued as early as Tuesday morning, it added. Gaemi, the third tropical storm in the Pacific Ocean this typhoon season, is projected to begin moving northwest today, and be closest to Taiwan on Wednesday or Thursday, the agency said. Today, there would likely
DISRUPTIONS: The high-speed rail is to operate as normal, while several airlines either canceled flights or announced early departures or late arrivals Schools and offices in 15 cities and counties are to be closed today due to Typhoon Gaemi, local governments announced last night. The 15 are: Taipei, New Taipei City, Taoyuan, Tainan, Keelung, Hsinchu and Kaohsiung, as well as Yilan, Hualien, Hsinchu, Miaoli, Chiayi, Pingtung, Penghu and Lienchiang counties. People should brace for torrential rainfall brought by the storm, with its center forecast to make landfall on the east coast between tonight and tomorrow morning, the Central Weather Administration (CWA) said. The agency issued a sea warning for the typhoon at 11:30pm on Monday, followed by a land warning at 11:30am yesterday. As of
CASUALTY: A 70-year-old woman was killed by a falling tree in Kaohsiung as the premier warned all government agencies to remain on high alert for the next 24 hours Schools and offices nationwide are to be closed for a second day today as Typhoon Gaemi crosses over the nation, bringing torrential rain and whipping winds. Gaemi was forecast to make landfall late last night. From Tuesday night, its outer band brought substantial rainfall and strong winds to the nation. As of 6:15pm last night, the typhoon’s center was 20km southeast of Hualien County, Central Weather Administration (CWA) data showed. It was moving at 19kph and had a radius of 250km. As of 3pm yesterday, one woman had died, while 58 people were injured, the Central Emergency Operation Center said. The 70-year-old