Taiwan’s manufacturing sector continue to go high due to global demands according to the Ministry of Economic Affairs of the country. The data of increase is much higher compared to the same period of last year (2017). The continues global demands will much probably continue up to 2019.
The output of electronics component makers rose as the launches of innovative and new mobile devices by local and international mobile devices, prices of DRAM and IC also increase. Computer and optoelectronics sector also saw increase in production because of much higher demands of computers, solid state drivers, memory drivers and other semiconductor inspection equipment.
Taiwan’s chemical , petroleum, metal and machinery sectors gained the most. The chemical and petroleum sector escalates its gain due to rising crude oil prices in the global market continue to improve the prices of chemical and petroleum products. Metal and machinery sectors gains continue to rise with respect to the higher international raw material prices.
The fourth quarter of every year is always a peak for electronics industry for both local and international as it is the quarter of the end-of-year sales season and also where holiday season of giving enters. For the above sectors many OFW are working in electronics, computer and optoelectronics sectors as they see more production (continuous overtime work schedules).
Taiwan’s semiconductor industry;
The semiconductor industry of Taiwan expects to grow more for 2019 at least five percent according to Taiwan’s Industrial Technology Research Institute (ITRI). In the years ahead, rising orders of integrated IC, back-end chip packaging from leading international manufacturers advance technology will most likely benefit the semiconductor industry of Taiwan.
New technology and innovation will drive the rising semiconductor industry. Among semiconductor company in Taiwan are: leading Taiwan Semiconductor Manufacturing Corporation (TSMC), Advanced Semiconductor Engineering (ASE), Siliconware Precision International (SPIL), Amkor technology, Powertech Technology Corporation (PTI) to name a few.
ITRI sets three recommendation for the growing semiconductor industry, these is to make use of gathering complimentary companies, to increase new product development relating to artificial intelligence (AI) and Internet of things (IoT) and build a multinational environment in it.
US-China trade war brings downgrade to manufacturing growth;
The rising tension of trade war between the US – China could hurt the and a possible decrease in raw materials use for manufacturing. This trade war cause a huge concern for domestic and international factors, the Industrial Economics and Knowledge Center believes Taiwan’s economic growth will take a turn if the trade war between the two countries continuous.
Uncertainty surrounds the cooling demands of smartphones and computers as competition on high end technology goes deeper. The United States claims that China is not obedient enough in recognizing legitimate patents and their policies are against the foreign imported technology as Chinese laws continue to counter intellectual property rights in which their Chinese partners approved to grant access and consent to use, improve and replicate technologies.
By the start of 2019, salaries of minimum wage earner in Taiwan set to increase, from NT$22,000 to NT$23,100 this still shows the country has a good economic growth and surely recover to the trade war of the two countries.
(image credit to Google search)
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