Taipei--The production value of Taiwan's machinery manufacturing industry is expected to exceed NT$1 trillion (US$32.78 billion) this year, with exports in the sector poised to grow 5-10 percent, an industry leader said on Thursday.
In 2016, industry exports were about US$21.1 billion, while the total output of the sector reached NT$990 billion, said Alex Ko (???), chairman of the Taiwan Association of Machinery Industry.
Discussing prospects for 2017, Ko said that strategic partnerships with the aviation sector and the development of smart machinery products, meant the industry was likely to see overall output pass the NT$1 trillion mark and added that he also expected 5-10 percent growth in exports this year.
Ko noted that the industry has set a goal of listing more than 50 companies on the stock exchange and the over-the-counter market within five years, as a way of enhancing the sector's international competitiveness.
The machinery manufacturing industry is also looking to make advances in the aircraft industry and hopes to generate US$5 trillion from aerospace part production over the next 20 years, Ko said.
This year, export growth will hinge on the performance of the New Taiwan dollar, Ko said, while calling on the government to adopt a strategy of defensive devaluation strategy to help boost exports.
Source: Focus Taiwan News Channel