Local business revenues totaled NT$1.2337
trillion (US$41 billion) in June, representing a 4.1-per cent growth, and
marked the 10th consecutive month of growth, according to a report released by
the Ministry of Economic Affairs (MOEA) yesterday.
Thanks
to growing demand for smartphones, computers and plasma TVs, the wholesale
sector's revenues grew 3.6 per cent to reach NT$865.4 billion. Higher exports
of stainless iron and construction steels also contributed to the growth, the
MOEA said.
The
retail sector's sales grew 5.5 per cent to reach NT$333 billion, as sales pick
up for cars, summer products and FIFA World Cup-related products and services.
Sales
in the food sector grew 3.8 per cent to reach NT$35.3 billion. The growth was
attributed to more frequent wedding ceremonies, chain restaurant expansion, the
launch of new brands and tourism-related promotion.
The
MOEA forecast revenues to climb further in July. The whole sector is likely to
benefit from growing demand for personal computers, smart devices and
electronic parts and components, the MOEA said. The retail sector and food
sector may see revenue growth as the summer travel season begins in July as
well as with car dealers launching promotions.
According
to the MOEA's survey, 8.7 per cent of firms forecast higher sales in July than
in June, while 86 per cent expect the same level and 5.3 per cent forecast
lower sales.
The
industrial production index was pegged at 107.93 in June, up 8.63 per cent from
a month ago.
The
index of the manufacturing sector, which constitutes over 90 per cent of
industrial production, was pegged at 108.13. The manufacturing index is the
third highest figure on record. It grew 8.93 per cent year-on-year and marked
the fifth consecutive month of growth.
The
growth in the manufacturing sector was mostly attributed to increased
production of semiconductors, LEDs, computers and related parts and components,
optical instruments, steel, machinery and cars.
Production
growth across product lines in the first half of 2014, from highest to lowest,
are cars and related parts at 12.4 per cent, electronics products at 8.9 per
cent, machinery equipment at 6.5 per cent, computers and optical electronics at
2.9 per cent, base metal at 2.6 per cent and chemical materials at 1.1 per cent.
The
production index in the second quarter was pegged at 107.95, which reached a
new record in terms of quarterly performance. The index represented a 6.71-per
cent growth year-on-year, which was the biggest margin of growth in three
years.
Still,
the MOEA forecast further expansion in the third quarter. The ministry pointed
to a number of positive factors that will support the growth momentum: a global
economy on track for recovery, strong car sales around the world, higher demand
for machinery, the upcoming launch of new handheld devices, renewed demand for
personal computers, growing demand for electronics products related to cloud
computing and Internet of Things technologies.
According
to the MOEA survey, 14.2 per cent of firms expect higher a production volume in
July than in June, while 71.6 per cent forecast about the same level and 14.3
per cent expect lower production.
US$1:NT$29.963
John
Liu
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated
in Singapore since 1994.
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