Taiwan's Industrial Production Index Hits New High of 112.26 in July

Taiwan's industrial production index hit a new high of 112.26 in July for an annual growth of 6.08%, according to statistics released by the Ministry of Economic Affairs (MOEA).

Integrated circuits (ICs) had the highest index of all industries in July, at 154.15, helping to boost the electronic products & parts and information technology (IT) products indexes to new record highs as well. The strong demand for mobile devices drove up the production of wafers, IC packaging, and LEDs.

Taiwan's business turnover reached NT$1.2439 trillion (US$41.46 billion) in July, the highest ever recorded and up 2.8% from a year earlier. In the same month the revenues of convenience stores on the island hit a monthly record of NT$26.1 billion (US$870 million), for an annual growth of 6.2%.

Wholesale revenues for the month came to NT$866.4 billion (US$28.88 billion), up 1.8% year-on-year and the third-highest monthly figure on record. The retail industry posted revenues of NT$342.3 billion (US$11.41 billion), its fourth-best performance ever and up 5.5% YoY. General merchandise accounted for NT$93 billion (US$3.1 billion) of the retail total, up a sharp 7.9% YoY, and the food and beverage sector raked in revenues of NT$35.2 billion (US$1.17 billion), for annual growth of 3.1%. (JL)