Industrial production up in April
By ECCT staff writers
Taiwan’s industrial production index increased 3.51% in April 2020 compared with the same month in 2019. According to a report by the Ministry of Economic Affairs (MOEA), an annual comparison by main industrial division showed that manufacturing increased 4.15%, mining & quarrying increased 21.89%, electricity & gas supply decreased 5.35% and water supply decreased 0.19%. In the first four months of this year, industrial production rose by 7.68% from a year earlier and production by manufacturers grew 8.23%, according to the MOEA.
In terms of a breakdown of manufacturing activity, which accounts for 90% of total industrial production, strong demand for ICT products, particularly semiconductors, helped to offset the drop in demand for petrochemical, metals, machinery, automotive products in April.
Total output of the electronic components industry increased 22.15% year-on-year, the data showed while, production in the computer, electronics and optical components industry increased by 1.75% year-on-year in April.
In contrast the output of the petroleum and coal products sector plunged 16.74% year-on-year in April as international crude oil prices declined to historic lows and airlines, which are usually a major source of demand, remain largely grounded all over the world.
The automobile and auto parts sector posted its largest year-on-year decline in since the global financial crisis in 2009, falling 21.1% in April while the textile industry also fell 33.09%.