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Taiwan's IPI Hits Record High of 107.47 in Nov.

Dec 29, 2014 | By Steve Chuang

Steady sales globally of iPhone 6 have reportedly benefited  Taiwanese manufacturers of electronic parts and components, resulting in Taiwan's industrial production index (IPI) reaching  107.47 in November, the highest-for the month in history to have risen 6.86% over last November, according the latest report by Taiwan's Ministry of Economic Affairs (MOEA).

MOEA notes that a seasonally adjusted IPI for the month was up 0.81% over October, with first-11- month IPI being 106.11, up 6.03% year-on-year (YoY).

Meanwhile, manufacturing production index also hit the highest of 107.58 for November in the history, up 6.92% YoY, with  the seasonally adjust index up 1.12% month-on-month (MoM).

MOEA says the manufacturing production indexes of the four mainstay industries as described by the government, namely base metal and machinery, IT and electronics, chemicals and commodity industries, showed mixed results.

Mainly driven by strong demand for iPhone 6 worldwide, the production index for the IT and electronic industry showed the strongest yearly growth of 16.03% to 118.71 in November, with that for the base metal and machinery industry being 100.94, up 3.95% YoY.

Production indexes for chemical and commodity industries, however, declined 3.46% and 1.06%, respectively, YoY to 98.60 and 99.14.

MPI of IC and Chip Sectors Up 
MOEA indicates that the IC and semiconductor sector posted the second-highest MPI of 163.61 for November on record, sharply up 36.56% YoY, the sharpest growth  since October, 2012.

The production index for  electronic parts and components also rose 17.15% YoY to 127.37, to which MOEA attributes largely  strong sales of mobile Internet devices by major branded vendors, as well as wider-range applications of smart technology and banner shipments of display panels for large-sized LCD TVs by local suppliers.

Benefiting from simmering demand for camera lenses for higher-end smartphones, as well as rising popularity of wearable devices, the PC, electronic devices and optoelectronics sector finished November with production index of 89.87, up 11.01% YoY.

For the machinery sector, the production index reached 99.85 in November, surging 15.82% YoY, mostly thanks to growing investment by global enterprises in fixed assets, with the sector's production index growing double-digits since June.

The base metal industry also grew  in November with production index of 103.04, 5.68% higher than last November, due to increasing output of steel billets, hot-rolled steels, wire rods with most local steel mills being at full capacity.

Compared to the abovementioned sectors, local chemical manufacturers, nevertheless, witnessed production index down  4.28% to 98.5, partly due to steady drops in international oil prices, which has made global buyers hesitant to sap demand, and partly due to local petrochemical manufacturers' periodic facility maintenance, MOEA notes.

The automotive and auto parts sector saw production index slide,  the first time since last November, by 0.64% YoY to 104.92 in November, to which MOEA attributes many factors, including a higher base seen last November and output adjustments by local carmakers to prepare for the upcoming Chinese New Year holidays that result in weaker demand for auto parts.

As for outlook in the remainder of 2014, MOEA says Taiwan's IPI is expected to keep growing in December after 11 months of continuous growth, to hit an all-time high for 2014, given a couple of positive factors as stable economic recovery in the U.S., persistently strong demand for mobile Internet devices and brisk development of smart technology applications. (SC)


Taiwan's IPI by Month

Jan.
Feb.
Mar.
Apr.
May
Jun.
Jul.
Aug.
Sept.
Oct.
Nov.
IPI
100.87
87.85
104.03
104.83
109.79
107.91
112.34
110.51
108.96
112.68
107.47
YoY Growth Rate
-1.82%
6.83%
3.16%
5.29%
5.42%
8.61%
6.15%
6.89%
10.16%
9.09%
6.86%
Source: MOEA

Mfg. Production Index by 4 Main Groups and Sectors

Index
MoM Growth Rate
YoY Growth Rate
Jan.Nov. Index
YoY Growth Rate
Manufacturing Industry 107.58
-4.13%
6.92%
106.25
6.35%
Base Metal & Machinery
100.94
-3.72%
3.95%
100.49
5.81%
IT & Electronics
118.71
-4.10%
16.03%
113.81
11.21%
Chemcials
98.60
-4.37%
-3.46%
102.07
0.14%
Commodity
99.14
-4.88%
-1.06%
99.91
0.72%
Sectors




Electronics Parts & Components
127.37
-3.61%
17.15%
122.48
11.81%
Chemicals
98.50
-1.16%
-4.29%
102.04
-1.10%
Base Metals
103.04
-1.51%
5.68%
102.51
3.88%
PCs, Electronic Devices & Optoelectronics
89.87
-6.34%
11.01%
84.95
8.41%
Machinery
99.85
-2.15%
15.82%
92.56
10.60%
Automotive & Auto Parts
104.92
-0.83%
-0.64%
105.86
9.01%
Source: MOEA


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