Output value of Taiwan’s semiconductor sector logs $115 billion in 2020

23-Feb-2021 Intellasia | TaiwanNews | 6:02 AM Print This Post

The production value of Taiwan’s semiconductor industry registered NT$3.22 trillion (US$115 billion) in 2020, growing a considerable 20.9 percent annually, according to the ITRI Industrial Economics and Knowledge Centre.

Taiwan outperformed its global rivals in the semiconductor sector last year, and its output value is expected to increase another 8.6 percent to NT$3.49 trillion this year, the centre predicted.

The stellar performance was boosted by robust demand for laptops and ICT-related products required by remote workers amid the coronavirus pandemic. The global semiconductor market grew 6.8 percent on a yearly basis in 2020, reaching $440.4 billion, according to the centre.

Meanwhile, the integrated circuits (IC) manufacturing sector in Taiwan logged a production value of NT$1.82 trillion in 2020, representing an annual growth of 23.7 percent. The sector is likely to sustain its momentum in 2021 and is forecast to grow by eight percent from last year, wrote CNA.

The Taiwanese government has revised its forecast of the country’s GDP in 2021 to 4.64 percent from 3.83 percent, largely thanks to upbeat export growth prospects in the semiconductor industry, reported Liberty Times. Countries including the US, Germany, and Japan have recently pleaded with Taiwan to boost the supply of auto chips.



Category: Taiwan

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