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Taiwan semiconductor output value forecast to grow 18%

This is double previous forecast, annual output forecast to reach NT$3.8 trillion

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Semiconductors (Getty Images)

Semiconductors (Getty Images)

TAIPEI (Taiwan News) — The production value of Taiwan’s semiconductor industry is expected to grow 18.1 percent annually, more than double the previous forecast of 8.6 percent, according to the ITRI ​​Industrial Economics and Knowledge Center.

The sector logged NT$904.7 billion (US$32.3 billion) in its output value in the first quarter, representing 2.6 percent quarterly growth. Integrated circuits (IC) testing, IC design, IC manufacturing, and IC packaging reported 5.7 percent, 5.3 percent, 1.4 percent, and 0.4 percent quarterly growth, respectively.

The strained semiconductor supply chain has continued to drive up demand for relevant IT products, from computers to automobiles. The center predicted the sector is likely to sustain its momentum in the second half of 2021, with annual output forecast to reach NT$3.8 trillion (US$135.8 billion).

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chipmaker, has joined the Semiconductors in America Coalition (SIAC), a group comprising 65 major industry players from the U.S., Asia, and Europe. The alliance reflects U.S. President Joe Biden’s resolve to advance America’s semiconductor manufacturing and research.