TRADE TENSIONS Output fell for a third consecutive quarter as electronics components, the manufacturing sector’s key industry, slid 3.81% last quarter, the MOEA said
Date: Nov 20, 2019
By: Natasha Li / Staff reporter
Manufacturing output last quarter declined for a third straight quarter, shrinking 7.01 percent year-on-year to NT$3.37 trillion (US$110.46 billion), the Ministry of Economic Affairs (MOEA) said yesterday, attributing it to sluggish global economic growth due to the US-China trade conflict.
While the manufacturing sector would continue to bear the weight of the trade tensions, companies’ relocating their production back to Taiwan, new technologies and various applications, including 5G, artificial intelligence and high-performance computing, could help drive up output going forward, the ministry said.
The decline in output last quarter was led by the electronics components industry — the manufacturing sector’s most important industry — which slid 3.81 percent to NT$940.6 billion, it said.
LCD production, for one, declined as the market remained oversaturated due to increasing Chinese supplies, it said. [FULL STORY]