TAIPEI, Taiwan -- The year-on-year growth in output of the local manufacturing sector for the first quarter of this year hit a six-year high on the back of a strong showing in the electronic component industry, particularly in the semiconductor and flat panel sectors, the Ministry of Economic Affairs (MOEA) said Friday. The output of the semiconductor and flat panel businesses increased 9.86 percent and 33.0 percent, respectively, from a year earlier to NT$324.4 billion and NT$233.7 billion, the MOEA added. The local machinery sector benefited from semiconductor makers' efforts to expand production capacity, and witnessed its output for the first quarter rising 2.71 percent from a year earlier to NT$143.9 billion, the MOEA said. Bucking the upturn in the manufacturing sector, the auto sector faced growing competition from imported cars, reporting a 1.77 percent year-on-year decline in Q1 output, which totaled NT$93.4 billion, the MOEA added. Looking ahead, the MOEA said, since the global economy is on the road to recovery and international brands are expected to unveil new smart devices, the local manufacturing sector could continue to report a year-on-year increase in output in the second quarter.

Source: The China Post May 19, 2017 11:37 UTC