TAIPEI (Taiwan News) — The Ministry of Economic Affairs announced Monday that November’s Industrial Production Index was 102.35, a 10.29% year-on-year increase, marking the ninth monthly consecutive increase.

The Department of Statistics in a press release said the growth was mainly due to the growing demand for applications in AI, high-performance computing (HPC), and cloud data processing, which boosted production momentum in the information electronics industry.

From January to November, industrial production increased by 10.64%, with manufacturing up by 11.07%, compared to the same period last year, per CNA. Mining and quarrying decreased by 7.82% year-on-year while electricity and gas supply decreased by 0.54%.

The production index for electronic components hit a record high for a month, with a 19.07% year-on-year increase. The computer electronics and optical products industry also hit a record high for the same month, with a 7.98% year-on-year increase.

The department said global growth is uncertain due to the US-China technology tech war and geopolitical conflicts, per Anue. However, demand for advanced semiconductor processes and pre-Lunar New Year stockings are expected to support stable growth in Taiwan’s manufacturing.