TAIPEI (Taiwan News) — The value of Taiwan’s manufacturing sector reached a record NT$4.18 trillion (US$150.59 billion) for the third quarter of 2021, the Ministry of Economic Affairs (MOEA) said Friday (Nov. 19).
The record total was based on the global recovery, rising demand, continued development of new technologies, the launch of new consumer electronics products, and stable high prices for raw materials, CNA reported.
The latest figures mark the fourth consecutive quarterly rise and an increase of 29.68% from the third quarter of 2020. The metals sector was the strongest performer, with its production value soaring 78.91% from the same period last year to reach NT$505.6 billion.
Chemical raw materials surged 66.87% to a total NT$524.8 billion. Meanwhile, oil and coal products advanced 48.92% to reach NT$209.8 billion.
Machinery equipment, car parts, parts for electronics, and panels all saw their production value rise by a range between 15% and 27%, according to the MOEA data.
Even though the COVID-19 pandemic is not over yet, the economic recovery will continue. As the year-end holiday period approaches, demand for electronics products is expected to surge further, helping Taiwan’s manufacturing sector to continue its growth, the MOEA said.