Industry in Taiwan

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Taiwan - Industry

Industrial production declines in December as external demand falters

Industrial output fell 1.2% year-on-year in December, contrasting the 2.4% growth logged in November. This was furthermore the first time output contracted in over two-and-a-half years, with the exception of February 2018’s negative print, which was caused entirely by calendar effects due to seasonal holidays.

Output in the manufacturing sector—which represents more than 90% of total industrial production—fell 1.5% in December, down from the 2.5% growth registered in November. On the positive side, output growth in electricity and gas supply as well as mining and quarrying accelerated, while water supply rebounded from November’s contraction.

On a seasonally-adjusted month-on-month basis, industrial output contracted 0.4% in December, following November’s sharper 2.1% decline. Annual average growth in industrial production meanwhile tumbled from 4.1% in November to 3.7% for the full year 2018.

Analysts participating in the FocusEconomics Consensus Forecast expect industrial production to expand 3.0% in 2019, which is unchanged from last month’s forecast. For 2020, participants expect industrial output to grow 2.7%.

Taiwan - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)3.2  6.4  -1.3  2.0  5.0  

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Taiwan Industry Chart

Taiwan Industry
Note: Annual variation of industrial production in %.
Source: Directorate-General of Budget, Accounting & Statistics and FocusEconomics calculations.

Taiwan Facts

Bond Yield0.831.28 %Feb 20
Exchange Rate30.800.07 %Feb 20
Stock Market10,2720.37 %Feb 20

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