Industrial production in Taiwan posted a year-on-year increase for the second consecutive month in September, helped by the launch of new mobile devices by international brands, government statistics showed Monday.
The industrial production index in Taiwan rose 5.02 percent from a year earlier to 107.81 points after a 7.78 percent year-on-year increase in August, according to Ministry of Economic Affairs (MOEA) data.
The ministry said the second straight month of growth reflected the peak season in the global electronics industry, with many brands rushing to release their products to carve out bigger market shares.
As many Taiwanese high-tech firms are part of the global high-tech supply chain, the country's industrial production has grown accordingly, the ministry said.
The iPhone 7 and the iPhone 7 Plus unveiled by Apple Inc. in September have served as major drivers of Taiwan's industrial production growth along with new models released by Chinese smartphone vendors, the MOEA said.
The sub-index for the manufacturing sector, which accounts for more than 90 percent of Taiwan's total industrial production, rose 6.47 percent from a year earlier, the fifth consecutive month the index rose on a year-on-year basis, the MOEA said.
The biggest contributor to manufacturing growth was the electronics component segment, which was up 20.69 percent in September from a year earlier, with production of semiconductors and flat panels up 44.28 percent and 15.09 percent, respectively, the data showed.
As for the chemical industry, production in September was up only 0.4 percent from a year earlier as a rebound in international crude oil prices was offset by the suspension of production by some downstream petrochemical firms due to annual maintenance, the MOEA said.
The computer and optoelectronics sub-index rose 0.88 percent due to the launch of new products, while the machinery sub-index fell 5.09 percent year-on-year on falling demand as some manufacturers in Southeast Asia were close to completing new factory installations, according to the ministry.
The sub-index for the base metal industry rose 3.04 percent from a year earlier because of stabilizing steel prices and a relatively low comparison base from the same period last year.
But production in the auto/auto component industry plunged 15.62 percent from a year earlier due to a product transition period, the MOEA added.
In the first nine months of this year, industrial production was down 0.12 percent from a year earlier, the data showed.
Source: Focus Taiwan News Channel