Industrial production in Taiwan declined 1.80 percent year-on-year in February of 2019, following a downwardly revised 1.09 percent drop in the prior month. It is the steepest decrease in industrial activity since February last year. Output fell for manufacturing (-1.75 percent vs -1.08 percent in January); electricity and gas supply (-3.14 percent vs -1.29 percent) and water supply (-1.27 percent vs -1.73 percent). In contrast, production surged for mining & quarrying (9.70 percent vs 1.46 percent). On a seasonally adjusted monthly basis, industrial production dropped 0.24 percent, after a downwardly revised 2.50 percent decline in January. Considering the first two months of 2019, industrial output shrank 1.41 percent over a year ago. Industrial Production in Taiwan averaged 4.96 percent from 1997 until 2019, reaching an all time high of 75.71 percent in January of 2010 and a record low of -43.30 percent in January of 2009.
Industrial Production in Taiwan is expected to be 8.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Taiwan to stand at 3.50 in 12 months time. In the long-term, the Taiwan Industrial Production is projected to trend around -1.10 percent in 2020, according to our econometric models.