Electronics production has recovered strongly from slowdowns due to the COVID-19 pandemic, says Bill Jewel of Semiconductor Intelligence, with most major Asian electronic producers reported double-digit increases in early 2021.
The chart above shows three-month-average change versus a year ago for electronics production. The data is from each country’s official statistics and is in local currency.
China, by far the largest producer of electronics, was growing at about a 10% average rate in 2019. As many factories were shut in early 2020 due to the pandemic, electronics production change versus a year ago turned negative.
Production growth was back to the 10% range in May 2020. Production came back robustly in early 2021 compared to the weakness of a year ago. In February 2021, China’s electronics production was up 36%.
Taiwan experienced electronics production growth averaging over 20% in the months of 2019, benefiting from production shifts from China during the U.S.-China trade disputes. Growth slowed to single digits in 2020, but never went negative. Taiwan was also very effective in fighting COVID-19, with only 990 cases and 10 deaths out of a population of over 24 million according to Johns Hopkins University of Medicine.
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