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Industrial production up 8.53% in April

2018/05/23 19:05:04

CNA file photo

Taipei, May 23 (CNA) Taiwan's industrial production for April rose 8.53 percent from a year earlier as sustained global economic growth boosted demand for the products of Taiwan's export-oriented manufacturers, the Ministry of Economic Affairs (MOEA) said.

The MOEA said the industrial production index in April was 102.94, up 8.53 percent from a year earlier, marking the 2nd time in as many months it registered a year-on-year increase.

The only month in which it fell sharply was in February, when there were fewer working days during the month than a year earlier because the Lunar New Year holiday fell in February this year rather than in late January.

The sub-index for the manufacturing sector, which accounts for more than 90 percent of the country's total industrial production, rose 9.07 percent from a year earlier to 103.52, the MOEA said.

In the manufacturing sector, production posted by electronic component makers rose 18.51 percent year-on-year in April because of strong demand for high-tech semiconductors, with production by integrated circuit firms up 35.76 percent from a year earlier, the MOEA said Wednesday.

Production posted by flat panel makers fell 2.76 percent from a year earlier in April, however, due to falling screen prices, which limited the growth of the electronic components industry to some extent, the MOEA added.

Computers and optoelectronics firms posted a year-on-year increase of 12.72 percent in production as mobile device brands adopted high-end camera lenses, and notebook computer makers received more orders, the MOEA said.

The MOEA said production in the machinery industry also rose 9.59 percent from a year earlier in April as manufacturers were keen to install equipment to increase their capacities, while production in the base metal industry was relatively unchanged.

Meanwhile, the chemical raw material industry saw production rise 6.51 percent from a year earlier in the wake of higher international crude oil prices and peak season effects in the global petrochemical business, the MOEA said.

Bucking the upturn, the auto industry registered a 6.04 percent year-on-year decline in production as some auto makers remodeled their production sites, causing a fall in passenger car production, the MOEA added.

In the first four months of 2018, Taiwan's industrial production was up 4.85 percent from a year earlier, while production generated by the local manufacturing sector also gained 4.96 percent year-on-year, according to the ministry.

(By Liao Yu-yang and Frances Huang)