TAIPEI (Taiwan News) — The Ministry of Economic Affairs (MOEA) reported Taiwan’s manufacturing fixed asset purchases in Q2 were NT$482.2 billion (US$14.9 billion) on Tuesday (Sept. 10), a 13.1% year-on-year increase.

According to a press release by the MOEA’s Department of Statistics on Tuesday, this growth ended five consecutive quarters of negative growth. The largest contribution was from the electronic components industry, which saw purchases totaling NT$327.6 billion.

The department said this was primarily driven by semiconductor companies expanding advanced manufacturing processes and high-end packaging capacity, per CNA. Green energy and power system improvement projects led related power equipment manufacturers to expand capacity, it added.

According to the report, the electronic components industry saw NT$327.6 billion in fixed asset purchases in Q2, accounting for 67.9% of the manufacturing sector and growing 26.3% year-on-year. Meanwhile, machine equipment purchases reached NT$9.8 billion, a 9.5% year-on-year increase.

Additionally, the department reported manufacturing revenue, including from overseas production, reached NT$8.03 trillion in Q2, an 8.1% increase year-on-year, ending six consecutive quarters of negative growth. It said the growth was mainly due to the continued expansion of AI and high-performance computing.