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Taiwan Industrial production April 2024

Taiwan: Industrial output growth gains steam in April

Industrial output increased 14.6% year on year in April (March: +4.2% yoy). April’s upturn was largely driven by upturns in manufacturing and electricity and gas supply production; the former was likely underpinned by rising global demand for AI and cloud applications spurring the country’s electronics industry.

On a seasonally adjusted monthly basis, industrial production rose 0.5% in April (March: -0.7% mom). Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 4.4%, up from March’s minus 7.3% reading.

An upturn in the electronics industry and a low base effect should support a rebound in industrial production in 2024 relative to 2023, in line with the rebounds expected in East Asia’s other key electronics exporters such as China, Korea and Vietnam.

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