Taipei, Aug. 23 (CNA) Taiwan's industrial production declined on a year-over-year basis for the 14th consecutive month in July, falling more than 15 percent as weak global demand continued to affect the country's export-oriented economy, the Ministry of Economic Affairs (MOEA) said Wednesday.According to the MOEA, Taiwan's industrial production index for July fell 15.20 percent from a year earlier to 85.44, with nearly all of the manufacturing sector bar the computer and optoelectronics industry, reporting declines in output.The MOEA said that the manufacturing subindex, which accounts for more than 90 percent of the total industrial production, was down 15.68 percent in July compared with 2022.Aug. 22: Seasonally adjusted unemployment rate hits lowest level since 2000July's figures were a continuation of a trend that has seen year-over-year declines of 17.33 percent and 18.01 percent in the industrial production index decline and the manufacturing subindex, respectively, for the first seven months of 2023, the MOEA added.Bucking the downtrend, the computer and optoelectronics industry subindex rose 8.24 percent in July year-over-year to hit a new high of 120.4, driven by growing demand for cloud computing products and emerging technologies such as artificial intelligence (AI), the MOEA said.Speaking with reporters, Huang Wei-jie (黃偉傑), deputy head of MOEA's Department of Statistics, said that while the computer and optoelectronics industry had been able to seize upon growing demand for AI in July, many exporters in Taiwan were still spooked by weak global end-user demand.One silver lining is that the local industrial production moved higher compared with June, with many manufacturers anticipating an improved second half of the year, Huang added.Aug. 21: Export orders down for 11th straight month in JulyAccording to the MOEA's figures, industrial production recorded a 2.64 percent month-over-month increase in July, while the manufacturing subindex was also up 2.21 percent.In line with the broad industrial production, the electronics component industry suffered a 22.92 percent year-over-year decline in production as many clients of semiconductor suppliers, including pure-play wafer foundry operators, IC designers and IC substrate makers, appeared cautious in placing orders at a time of inventory adjustments, the MOEA said.Among old economy industries, production of base metal makers fell 7.94 percent from a year earlier in July as the global steel market suffered fragile demand, which prompted suppliers to enter annual maintenance and cut production, the MOEA added.Aug. 19: Taiwan's manufacturing output down for 3rd straight quarter in Q2Production of the chemical raw material and fertilizer industry fell 12.01 from a year earlier in July as suppliers lowered capacity utilization amid inventory adjustments, while production of the machinery industry also shed 18.64 percent from a year earlier as investors scaled back investments in production expansion, the MOEA added.As for the auto and auto part industry, production fell 4.39 percent from a year earlier as outbound sales of certain auto components such as vehicle lights and transmission systems declined, but car sales increased in the local market to cap the production reduction, according to the MOEA.Looking ahead, Huang said production in the manufacturing sector is expected to fall 14.5-18.5 percent from a year earlier in August due to weakening global demand from end-users.He said international brands' efforts to launch new tech gadgets in the second half of the year and the booming AI market are expected to support the local manufacturing sector, while the weaker-than-expected economic growth in China, the largest buyer of Taiwan's goods, and continued weakness in end-user demand are expected to impact manufacturers' production.Still, the year-over-year fall in production in the manufacturing sector is likely to moderate for the entire third quarter, Huang said.(By Liu Chien-ling and Frances Huang)Enditem/ASG (ICE TAIPEI)

Fonte notizia: Organi di Stampa - Focus Taiwan News Channel