Taiwan's Q2 manufacturing earnings up 6.6% to US$215b

The surge in chemical material and oil segment revenue boosted the growth.

Taiwan’s manufacturing sector saw its sales growing in Q2 by 6.6% YoY to US$215b, the Ministry of Economic Affairs (MOEA) revealed.

The increase in sales has been sustained for the seventh consecutive quarter amidst the rising global demand. For H1, sales made by the sector hit US$420b which is a 3.6% YoY increase.

The sector’s chemical material increased its revenue by 18% to US$18.59b. Meanwhile, revenue in the oil segment jumped 27.1% to $15.24b.

For base metal and machinery, revenue surged 16.6% to $11.59b whilst machinery revenue increased 16.7% to US$10.03b. For local electronics, sales rose 7% to US$43b amidst the rising demand for semiconductors.

Also read: Taiwanese firms fazed by trade war concerns in China

Meanwhile, sales in the computer and optoelectronics segment contracted by 1.9% to US$63b on the back of slower demand for handheld devices and a delay in shipments of notebook computers

According to MOEA, manufacturing may see sustained growth in Q3 amidst global economic growth. However, it could alse be hit by the US-China trade wars.