Taiwan reassures world on chip exports -

The Taiwanese chip industry expanded 16.4 percent in the last quarter, as revenues increased despite economic concerns.

According to a report released by the Industrial Technology Research Institute, an organisation which is linked to Taiwan's Ministry of Economic affairs, revenues in the chip industry grew over the last quarter to $13.97 billion. On an annual basis this meant growth of 1.6 percent.

The analysts believe that growth is set to continue to into the next quarter too, with an increase in revenues of 7.2 percent, according to the Taipei Times.

Within this IC manufacturing saw 6.1 percent growth sequential growth, while contract wafer manufacturing was up 6.6 percent.  Memory product manufacturing revenues were up 4.1 percent.

The ITRI said that growth had slowed somewhat due to the macroeconomic pressures of the eurozone crisis, as well as slowed PC demand in US and China.

The electronics sector more generally has been dogged by slow demand from abroad, with the Ministry of Finance showing a drop in revenue recently, while analysts have placed importance on renewed growth the Autumn as new products come on to the market.