Industrial production up for 9th straight month in November

Taipei, Dec. 23 (CNA) Taiwan's industrial production received a further boost from solid global demand for emerging technologies such as artificial intelligence applications, rising more than 10 percent from a year earlier in November, marking the ninth consecutive month of year-on-year growth, the Ministry of Economic Affairs (MOEA) said Monday.

Data complied by the MOEA showed the industrial production index rose 10.29 percent from a year earlier to 102.35 after an 8.81 percent increase in October, while the sub-index for the manufacturing sector, which accounts for more than 90 percent of the total index, rose 10.73 percent year-on-year to 102.69 last month.

In the first 11 months of this year, the industrial production index grew 10.64 percent from a year earlier with the sub-index for the manufacturing sector up 11.07 percent year-on-year, the data indicated.

In November, production for the electronic components industry rose 19.07 percent from a year earlier to hit a new high of 112.44 in November, with semiconductor suppliers benefiting from AI and high performance computing (HPC) devices with production soaring 23.8 percent, the MOEA said.

Production in the computer and optoelectronics industry also rose 7.98 percent from a year earlier in November on the back of strong demand for AI and cloud-based services, which pushed up AI server shipments, the MOEA added.

However, recovery in the local industrial sector was uneven with some old economy industries still displaying production weakness in November, according to the MOEA.

The base metal industry posted a 1.72 percent year-on-year increase in production in November on a relatively low comparison base over the same period of last year, while the machinery industry posted a 7.96 percent year-on-year increase in production as semiconductor suppliers continued to expand by acquiring equipment to meet demand for products made using high-end processes.

On the other hand, the chemical material and fertilizer industry suffered a global supply glut and also saw production reduced by annual maintenance at some firms, reporting a 2.82 percent year-on-year decline in production in November, the MOEA said.

In addition, the auto and auto parts industry posted a 9.66 percent year-on-year decline in production in November amid inventory adjustments among power system suppliers and other component makers, while competition from imported cars also pushed down local car maker production, the MOEA added.