Taiwan's light industry output likely to rise 2.64% in 2022 over 2021

Taiwanese tech exporters continue to benefit from healthy global demand and significant investment, according to the Industrial Technology Research Institute.

Output is expected to continue trending higher for several manufacturers focussed on export, with the domestic economy growing steadily amid healthy global demand and an increase in private investment, institute analyst Chen Chia-ying said during an online forum last week to discuss Taiwan’s manufacturing business climate, industrial sustainability and emissions targets.

The four major industries in the manufacturing sector are projected to see a rise in output based on the institute’s model, Chen was quoted as saying by a Taiwanese newspaper.

The chemical industry is expected to post NT$5.35 trillion in production value, up by 1.92 per cent from a year earlier, as the industry faced a relatively high comparison base last year and international crude oil prices are to remain high before moderating from the third quarter, Chen said.

The local manufacturing sector should remain alert for risks from geopolitical tensions and the COVID-19 pandemic, she said.

The institute also forecast that Taiwan’s renewable energy industry would generate about NT$209.5 billion in production value this year, up by 5.7 per cent from a year earlier, which would be the first time in five years that the industry’s output exceeds NT$200 billion.

ALCHEMPro News Desk (DS)