Taiwan Industrial production December 2020

Taiwan

Taiwan: Industrial output growth gains steam in December

January 25, 2021

Industrial output grew 9.9% compared to the same month a year earlier in December, which was above November's 7.6% increase. The notable pick up was largely due to faster growth in manufacturing production. In contrast, electricity and gas supply output decelerated.

On a seasonally-adjusted monthly basis, industrial production rose at a quicker rate of 1.9% in December (November: +1.1% mom). Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 7.1%, up from November's 6.8% reading.

FocusEconomics panelists expect industrial production to grow 6.2% in 2021, which is up 0.5 percentage points from last month’s forecast. For 2022, participants expect industrial output to grow 4.6%.


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Taiwan Industrial production Chart


Taiwan Industry December 20 20 0

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Ministry of Economic Affairs.


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