Cityscape at night in Taiwan

Taiwan Industrial production January 2023

Taiwan: Industrial output contracts at sharpest rate since April 2009 in January

Industrial production collapsed 20.5% year on year in January (December: -8.0% yoy). The figure marked the worst reading since April 2009. The reading largely reflected a dive in manufacturing production, although other subsectors also fell. A reduction in global demand for Taiwan’s electronics exports was an important driver behind the January figure. However, the downturn was exaggerated by the timing of the Lunar New Year holiday, which fell in January this year compared to February last year.

On a seasonally adjusted monthly basis, industrial output fell at a more pronounced rate of 3.8% in January (December: -0.8% mom), the worst result since March 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.5%, contrasting December’s plus 0.9% reading.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest