Taiwan’s manufacturing output in the third quarter rose 10.34 percent year-on-year to NT$5.02 trillion (US$154.5 billion), the highest in the past nine quarters, the Ministry of Economic Affairs said in a report on Tuesday.
The results came as the robust demand for artificial intelligence (AI), high-performance computing (HPC) and cloud data services stimulated production momentum in the information technology and electronics industries, while the demand for new consumer electronics continued to gain steam, the report said.
It was the third consecutive quarter of annual increase in manufacturing output and followed increases of 14.09 percent in the second quarter and 4.56 percent in the first quarter, it said.
Photo: CNA
Overall, manufacturing output in the first three quarters of this year increased 9.67 percent from a year earlier to NT$14.24 trillion, it added.
The ministry expects the momentum in the manufacturing sector to continue growing going forward thanks to the continued development of emerging applications related to AI and HPC, which benefits firms in the high-end semiconductor production and advanced server-related supply chains, coupled with inventory replenishment demand ahead of the year-end shopping season, the report said.
However, the outlook for the sector still faces uncertainties amid the persistent US-China technology rivalry and ongoing geopolitical conflicts, it said.
During the July-to-September quarter, the electronic components industry — the manufacturing sector’s most important segment, with a 32.7 percent share of its total output — saw production value increase by an annual rate of 18.11 percent to NT$1.64 trillion, driven mainly by a rise of 25.34 percent in semiconductor output to NT$1.04 trillion amid strong demand for AI and high-performance computing, ministry data showed.
Suppliers of computers and optical products also saw output rise 43.46 percent to NT$530.8 billion due to solid demand for servers, while LCD panel makers reported a 4.26 percent decrease in output to NT$139.5 billion due to weak demand, the report said.
In traditional industries, suppliers of chemical materials and fertilizers reported that output grew 5.06 percent to NT$397.6 billion, and makers of base metal products saw their output increase 5.25 percent to NT$378.3 billion, both benefiting from rising prices despite falling shipments, it said.
Producers of machinery equipment last quarter posted an output increase of 1.39 percent year-on-year to NT$232 billion, as the expanded use of emerging technology applications drove demand for semiconductor production equipment and machinery components, the report said.
However, the vehicle industry’s output declined 11.16 percent to NT$115 billion last quarter due to weak demand for passenger cars and lower shipments of auto components compared with a year earlier, it said.
STIMULUS PLANS: An official said that China would increase funding from special treasury bonds and expand another program focused on key strategic sectors China is to sharply increase funding from ultra-long treasury bonds this year to spur business investment and consumer-boosting initiatives, a state planner official told a news conference yesterday, as Beijing cranks up fiscal stimulus to revitalize its faltering economy. Special treasury bonds would be used to fund large-scale equipment upgrades and consumer goods trade-ins, said Yuan Da (袁達), deputy secretary-general of the Chinese National Development and Reform Commission. “The size of ultra-long special government bond funds will be sharply increased this year to intensify and expand the implementation of the two new initiatives,” Yuan said. Under the program launched last year, consumers can
Citigroup Inc and Bank of America Corp said they are leaving a global climate-banking group, becoming the latest Wall Street lenders to exit the coalition in the past month. In a statement, Citigroup said while it remains committed to achieving net zero emissions, it is exiting the Net-Zero Banking Alliance (NZBA). Bank of America said separately on Tuesday that it is also leaving NZBA, adding that it would continue to work with clients on reducing greenhouse gas emissions. The banks’ departure from NZBA follows Goldman Sachs Group Inc and Wells Fargo & Co. The largest US financial institutions are under increasing pressure
TRENDS: The bitcoin rally sparked by US president-elect Donald Trump’s victory has slowed down, partly due to outflows from exchange-traded funds for the token Gold is heading for one of its biggest annual gains this century, with a 27 percent advance that has been fueled by US monetary easing, sustained geopolitical risks and a wave of purchases by central banks. While bullion has ticked lower since US president-elect Donald Trump’s sweeping victory in last month’s election, its gains this year still outstrip most other commodities. Base metals have had a mixed year, while iron ore has tumbled, and lithium’s woes have deepened. The varied performances highlight the absence of a single, over-riding driver that has steered the complex’s fortunes, while also putting the spotlight
Twenty years after he was a young, struggling actor in Toronto, Thomas Lo (盧瑞麟) is now the one giving young Asian actors their big breaks. He just had to go to Hong Kong to do it. The Chinese Canadian has been the creative director of one of the territory’s biggest TV broadcasting companies for only a few years, but is already making original English-language content to reach viewers around the world. “It was a bit of a full-circle moment for me,” Lo said. “You see more Asians, but you’re still seeing the same Asians on screen, right? We’re looking for more opportunities
RSS