The revenue of Taiwan’s three major science parks in the first half of 2023 was the second-highest in history for the same period, at more than NT$1.8 trillion (US$55.8 billion). That’s according to the National Science and Technology Council (NSTC) which released the numbers on Wednesday.
The numbers represent an overall decrease of almost 12% from last year’s all-time high. While Southern Taiwan Science Park saw a growth of more than 3.8%, both Hsinchu Science Park and Central Taiwan Science Park saw decreases of around 19%. However, the number of people employed in the parks grew by more than 3% compared to the same period last year, reaching more than 323,000 people.
According to an NSTC analysis, persistent global inflation and high interest rates, along with sluggish end demand and ongoing inventory adjustments, are dampening domestic manufacturers' growth prospects. However, major manufacturers are expanding their facilities and promoting advanced, high-value manufacturing, which could mitigate the projected downturn.
Among the six major industries, the biotechnology and communications industries have seen revenues increase. However, declines were seen in industries such as precision machinery, optoelectronics, integrated circuits, and computing.
It is estimated that the overall performance of the parks will experience a slight decline this year compared to 2022 but will remain one of the highest in their history.