TAIPEI (Taiwan News) – Taiwan’s manufacturing output totaled NT$19.3 trillion (US$632.8 billion) in 2024, marking the second-highest figure on record, according to data released by the Ministry of Economic Affairs (MOEA) on Wednesday. The figure reflects a 9.75% increase compared to the previous year.
The sector generated approximately NT$5.5 trillion in the fourth quarter of 2024, representing a 9.44% year-on-year increase and marking the fourth consecutive quarter of growth.
The electronic components industry accounted for nearly NT$1.8 trillion of total output, growing by 19.37% year-on-year. The integrated circuit sector saw a notable 26.81% increase, driven by rising demand for artificial intelligence (AI) applications and high-performance computing, which contributed to growth in 12-inch wafer foundry production.
However, output in the large-size TFT-LCD panel industry declined by 2.97% year-on-year to NT$124 billion, partially offsetting gains in the broader electronic components sector.
The manufacturing of computers and optical products recorded NT$450 billion in output, a 25.49% increase from 2023. Growth in this segment was attributed to the expansion of AI applications and increased demand for cloud data services.
Other sectors also experienced varied performance. The metal industry recorded a slight 1.08% year-on-year increase, while the machinery and equipment sector saw an 8.95% rise, supported by higher production of semiconductor-related equipment and components. In contrast, the chemical materials and fertilizer industry saw a 2.73% decline in output, and the automotive and parts sector experienced an 11.30% year-on-year decrease.
Despite ongoing global economic uncertainties, including geopolitical tensions and the US-China technology competition, the ministry stated that advancements in high-performance computing, AI, and semiconductor packaging are expected to contribute to continued growth in Taiwan’s manufacturing sector.
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