Industrial production rises more than 1% in April

2019/05/23 18:32:41 fontsize-small fontsize-default fontsize-big
Photo for illustrative purposes only / CNA file photo

Photo for illustrative purposes only / CNA file photo

Taipei, May 23 (CNA) Taiwan's industrial production for April rose more than 1 percent from a year earlier, due mainly to strong demand for computers and optoelectronic products, the Ministry of Economic Affairs (MOEA) said Thursday.

The industrial production index in April rose 1.04 percent from a year earlier to 103.81, data compiled by the MOEA showed.

The sub-index for the manufacturing sector, which accounts for more than 90 percent of the country's total industrial production, rose 0.94 percent from a year earlier to 104.3, ending a four-month falling streak, the data indicated.

On a month-to-month basis, Taiwan's industrial production index dropped 0.56 percent in April, while the sub-index for the manufacturing sector also fell 0.74 percent.

After seasonal adjustments, industrial production rose 5.49 percent in April from a month earlier, and the manufacturing sector sub-index also grew 6.35 percent month-on-month, according to the data.

In the first four months of 2019, Taiwan's industrial production was down 3.05 percent from a year earlier, while production generated by the local manufacturing sector also fell 3.24 percent year-on-year, according to the data.

The growth in industrial production for April came as export orders received by Taiwan-based companies fell for the sixth consecutive month because of growing trade friction between the United States and China and slower global economic growth, the ministry said.

The MOEA added that negative impacts caused by the U.S.-China trade war and weak global economy are likely to weigh on the prospects for industrial production in May.

On the positive side, an increasing number of overseas Taiwanese businesses are moving their assembly lines back to Taiwan and there has been a gradual reduction in inventories held by semiconductor suppliers, the ministry said.

It also emphasized the bright future for emerging mobile app development in Taiwan.

(By Liao Yu-yang and Evelyn Kao)
Enditem/AW


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