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Manufacturing output rises for 2017 in Taiwan

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Strong global demand for local semiconductor services is helping buoy Taiwan’s annual manufacturing output numbers. (Courtesy of Taiwan Semiconductor Manufacturing Co. Ltd.)
 

Taiwan’s manufacturing output increased 5.85 percent year on year to NT$13.34 trillion (US$456.75 billion) in 2017 on the back of such factors as steadily recovering conditions abroad and the introduction of innovative emerging technology applications, according to the Ministry of Economic Affairs March 15.
 
The three leading contributors—accounting for more than 70 percent of the total gain—were basic metals, up 18.43 percent to NT$1.35 trillion; chemical materials, 11.97 percent to NT$1.76 trillion; and electronics components and parts, 3.54 percent to NT$3.67 trillion.
 
The key subsector of integrated circuits remained on the growth track for the sixth consecutive year, up 6.75 percent to a record NT$1.36 trillion. This gain was attributed by the MOEA to ongoing efforts by local semiconductor heavyweights in upgrading manufacturing processes.
 
Industrial equipment installation and maintenance services climbed 12.83 percent to NT$96.1 billion, while semiconductor and electronics equipment surged 36.58 percent to NT$87.9 billion. Both subsectors maintained growth for the fourth year running.
 
Several other subsectors, especially those dominated by hidden champions—small or medium enterprises manufacturing unique, internationally competitive products—also chalked up impressive results, reporting record outputs and growth for five to nine years in a row.
 
These included eyeglasses, up 18.46 percent to NT$34 billion; paper containers, 6.94 percent to NT$64.4 billion; power hand tools, 3.53 percent to NT$15.9 billion; sporting goods, 3.17 percent to NT$44 billion; and cosmetics and skincare, 1.5 percent to NT$19.3 billion. (SFC-E)