By: Central News Agency
With global economic growth momentum picking up in 2017, the production value of Taiwan’s manufacturing sector is expected to grow about 1 percent this year, according to the government-sponsored Industrial Technology Research Institute’s Industrial Economics and Knowledge Center (IEK, 工研院產業經濟與趨勢研究中心).
The IEK said that on the back of improving global demand, which will boost Taiwan’s export-oriented economy, the local manufacturing sector is expected to post NT$17.58 trillion (US$554 billion) in output in 2017, up NT$170 billion, or 1 percent, from a year earlier.
The IEK said that the latest forecast of the output of the local manufacturing sector came after Taiwan reported a rebound in outbound sales and an improvement in its composite economic indicators, which indicated that the local economy is growing at a quicker pace and that such a favorable development is expected to give a boost to the manufacturing sector.
In September, Taiwan’s export orders grew 3.9 percent from a year earlier. That represented the second consecutive month of year-on-year growth on the back of the launch of Apple Inc.’s iPhones. [FULL STORY]