Cityscape at night in Taiwan

Taiwan Industry

Taiwan Industry

Industrial Production in Taiwan

During the decade leading up to 2022, Taiwan's economy recorded an average industrial production growth rate of 4.4%, slightly above the Asia-Pacific's average of 4.1%. In 2022, industrial production growth was -1.7%. For more industry information, visit our dedicated page.

Taiwan Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Taiwan from 2014 to 2023.
Source: Ministry of Economic Affairs Taiwan.

Taiwan Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 3.4 1.0 8.8 14.7 -1.7

Industrial output expands at fastest pace since July 2021 in May

Industrial output increased 16.1% in year-on-year terms in May, which was above April's 14.5% increase. May's result marked the best reading since July 2021. May's pickup was largely due to faster growth in manufacturing output, likely as burgeoning global demand for AI applications boosted the country’s electronics sector. On a monthly basis, industrial production increased 6.2% in seasonally adjusted terms in May, which was significantly better than April’s 0.4% expansion and marking the best result since March 2012. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at minus 1.7% in May, up from April's minus 4.4%.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Taiwanese industry projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Taiwanese industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Taiwanese industry projections.

Want to get access to the full dataset of Taiwanese industry forecasts? Send an email to info@focus-economics.com.

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