TAIPEI (Taiwan News) — The Ministry of Economic Affairs (MOEA) announced Wednesday (Oct. 23) that the Industrial Production Index (IPI) for September reached 99.51, an 11.22% year-on-year increase.

According to an MOEA report, the electronic components sector saw a 19.03% year-on-year increase, contributing significantly to the growth in manufacturing, per CNA. The mining and quarrying sector increased by 2.41%, while the electricity and gas supply sector decreased by 6.82%.

The integrated circuit sector, benefiting from strong demand for high-performance computing (HPC) and AI, saw continued growth in 12-inch wafer foundry production, with a 23.77% year-on-year increase.

Also benefiting from AI and additional orders for smartphone lenses, the production index for computer, electronic, and optical products reached a record high for the same period in previous years, with a 32.41% year-on-year increase.

For Q3, the cumulative IPI grew by 12.25% compared to the same period last year, while the manufacturing production index increased by 13%.