Not long ago, the Statistics Department of Taiwan's Ministry of economy said that the direct export ratio of the panel and its components industry is about 80%, and the mainland is the largest market. After the rise of the mainland's supply chain, competition with mainland enterprises can only rely on niche markets such as large-scale panel and OLED panel.
The decline of Taiwan's panel exports is not a special case
According to the data, the direct export rate of Taiwan's panel industry is about 80%. In the first five months of this year, the value of Taiwan's panel export was 2.75 billion US dollars, an annual decrease of 28.4%. The main export market is mainland, accounting for 78.8%, followed by Hong Kong, accounting for 11.8%.
Comparing the panel exports of major competitors, the Ministry of economy said that at present, the mainland's export value ranks first, South Korea's second, and Taiwan and Japan's third and fourth respectively. In the first five months of this year, China's panel exports decreased by 15.8% annually, Taiwan's by 28.4%, South Korea's by 34.3% annually, and Japan's by 33.8% annually from January to April, indicating that the panel boom in the first half of this year was generally poor.
In the first four months of this year, the output value declined by nearly 40%
Affected by weak global economic growth, weak demand in the terminal market and the earthquake in Nantai at the beginning of the year, the latest data from the Ministry of economy shows that in the first four months of this year, the output value of Taiwan's panel industry decreased by 31.9% annually.
It is worth noting that since last year, Taiwan's panel exports to the mainland have declined by more than 30% due to the continuous production capacity of the mainland's panel industry in recent years and the continuous strengthening of supply chain localization by the mainland authorities.
In order to reduce the impact, the domestic panel industry has gradually moved towards higher-level and differentiated development, officials from the Ministry of economy said. In response to the development of Taiwan and the global panel industry, the Ministry of economy has also promoted the integration of Taiwan panel industry and Southeast Asia and other emerging markets, reduced dependence on the mainland market, and attracted international cooperation and consolidated the cooperative relationship between domestic and foreign system brand factories and Taiwan's industrial chain.