Taiwan's industrial production up 2% in July
CNATAIPEI--Taiwan's industrial production rose 2.07 percent from a year earlier on the back of rising output in several major sectors, such as the semiconductor, steel and petrochemical industries, according to government statistics.
August 25, 2013, 12:03 am TWN
In a statement released Friday, the Ministry of Economic Affairs (MOEA) said the July data stopped a five-month losing streak in terms of year-on-year changes after June's 0.40 percent decline, May's 0.27 percent drop, April's 0.80 percent fall, March's 3.0 percent slide and February's 11.17 percent slide.
In July, the local industrial production index stood at 105.83, up 6.38 percent from June, making it the second highest level in history, only after the 107.42 recorded in March 2011, the MOEA said.
After seasonal adjustments, the July industrial production index rose 0.84 percent from a month earlier, according to the MOEA.
The ministry said the manufacturing production sub-index for July rose 2.0 percent from a year earlier and was also up 5.81 percent from a month ago, making it the fifth highest level in history.
Yang Kuei-hsiang, deputy director of the MOEA's statistics department, said the chemical sector scored the highest year-on-year gains of 4.29 percent in the production index, among the four major manufacturing sectors, ahead of the metal and electrical sectors, which increased by 2.05 percent.
Yang said the information and electronics sector benefited from solid demand for integrated circuits resulting from the rising popularity of low and mid-range communications devices in the global market, while solar panel sales were boosted by large orders placed by the U.S. and Japan.
As a result, the MOEA statistics showed that the production index of the electronics component segment rose 4.68 percent from a year ago and also rose 6.47 percent from June to 118.42, the highest level in history.
Yang said with the global economy on the way to recovery and China's consumption expected to turn strong ahead of the Oct. 1 National Day holiday, the electronics component segment will likely continue an uptrend in industrial output for the rest of this year.
Meanwhile, the MOEA said commercial sales, which are comprised of revenue generated by the wholesale, retail and restaurant sectors, totaled NT$1.21 trillion (US$40.33 billion) in July, down 0.7 percent from a year earlier.
It was the third consecutive month for local commercial sales to record a year-on-year decline after June's decline of 1.6 percent and May's 2.5 percent fall.
In the wholesale sector, sales reached NT$852.5 billion in July, down 0.5 percent from a year earlier, while revenue posted by the retail and restaurant sectors fell 1.0 percent each to NT$327.2 billion and NT$33.3 billion, respectively.
Yang said the fall in the local wholesale sector largely resulted weakening demand for machinery and personal computers, while sales of car and auto parts increased during the period on intensive production campaigns, offsetting the decline to some extent.