Industrial production up 10.73% in September
By ECCT staff writers
Taiwan’s industrial production index increased 10.73% in September 2020 compared with the same month in 2019. According to a report by the Ministry of Economic Affairs (MOEA), the local industrial production index for September rose to a new high of 122.74, while the sub-index for the manufacturing sector, which accounts for more than 90% of total production, rose 11.32% to 123.91. In addition, mining & quarrying increased by 21.85%, electricity & gas supply decreased 4.10% and water supply increased 0.95%.
For the entire third quarter, Taiwan's industrial production grew 7.99% from a quarter earlier, with production generated by the manufacturing sector up 7.87% sequentially, the MOEA said. In the first nine months of this year, Taiwan's industrial production rose 6.29% from a year earlier, with production in the manufacturing sector up 6.74%, according to the MOEA.
The MOEA has attributed the rise to strong demand for electronic goods and components. In September, production of the electronic component industry rose 15.72% from a year earlier, marking the 10th consecutive month of a double-digit increase, according to the MOEA, while the semiconductor segment posted a 20.02% year-on-year increase in production, on the back of rising demand for a wide range of emerging technologies such as 5G applications, high performance computing devices and the Internet of Things (IoT). Production posted by the computer and optoelectronics industry also rose 21.89% from a year earlier in the wake of continued solid demand for online learning and remote working.