Taiwan Industrial production April 2021

Taiwan

Taiwan: Industrial output growth wanes in April but remains robust

May 24, 2021

Industrial output increased 13.6% year-on-year in April (March: +16.1% yoy). April's slowdown largely reflected a deterioration in water supply production and slower growth in manufacturing, which could be linked to severe drought. That said, the overall industrial production reading was still robust, as external demand for the country’s electronics remained strong.

On a monthly basis, factory output dropped 1.3% in seasonally-adjusted terms in April, moderating somewhat from March’s 1.5% fall. Meanwhile, annual average industrial production growth rose to 8.6% in April (March: +7.8%). This signals an improving trend in the industrial sector.

Panelists see industrial output expanding 11.0% in 2021, which is up 1.1 percentage points from last month’s forecast, and 4.4% in 2022.


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Taiwan Industrial production Chart


Taiwan Industry April 2021

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


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