TAIPEI, Oct. 26 (Xinhua) -- Taiwan's manufacturing sector is expected to see moderate growth next year, according to an industry think tank.
The island's manufacturing sector is expected to see its revenue grow 3.25 percent in 2018 to 18.15 trillion new Taiwan dollars (about 600.6 billion U.S. dollars), decelerating from the 4.04 percent year-on-year growth this year, according to the report by the Industrial Economics and Knowledge Center in Taiwan.
The global economy is expected to extend growth in 2018, which will help drive demand for laptops, tablets and smartphones. Mild global raw material price fluctuations will also ease impact on Taiwan's manufacturing's growth. However, the uncertain policies of major economies might complicate the island's manufacturing growth prospects, the report pointed out.
Among the four major manufacturing sectors, the petrochemical sector is likely to grow at the fastest pace of 4.13 percent annually next year, benefiting from slower capacity expansion globally and an uptick in crude oil prices.
Growth in the information and communications technology sector, the biggest contributor to the island's manufacturing industry, is expected to slow to 3.96 percent year-on-year next year due to slower shipments of new electronics.
The basic metal and machinery sector is expected to grow 2.18 percent next year, as substantial cuts in steel capacity from the Chinese mainland help ease a supply glut.
