Taiwan’s industrial production rose to a record high in May on the back of expanded production in key industries, according to the latest Ministry of Economic Affairs statistics released June 23.
The manufacturing sector gained 33.04 percent year-on-year to push the country’s industrial production index to 124.42 points last month. Domestic trade also registered its third-best performance on record.
“The index has been setting new records since March when it breached the 120-point mark,” said Huang Ji-shih, director-general of the MOEA’s Department of Statistics. “The May figure represents 30.67-percent growth from a year ago.”
Among major contributors to manufacturing production, machinery surged 91.8 percent from last year, followed by electronic components and parts with a 47.5-percent increase.
“Strong demand induced by new product launches and a low comparison base from last year contributed to the performance,” Huang said.
Looking ahead, the MOEA official expects the manufacturing sector to maintain its momentum in June as firms in the information communication technology sector continue expanding production.
Separately, the MOEA released May’s revenue figure for the wholesale, retail and food service sectors. This edged up 14.44 percent from a year ago to NT$1.13 trillion (US$34.96 billion)—the third-highest figure on record.
The latest tallies show that revenues from automobiles, motorcycles and related components and parts advanced by 30.76 percent year-on-year to NT$36.8 billion. Coupled with increasing new car registrations, the local automobile industry continues to show robust demand.
The food services sector gained 6.61 percent from a year before to NT$30.4 billion, a figure usually seen only during the new year holiday season.
“All signs are pointing to a recovery of private consumption,” Huang said. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw