Taiwan’s semiconductor industry reached a historic milestone in 2024, with total output exceeding NT$5 trillion (US$152.7 billion) for the first time, totaling NT$5.32 trillion (US$162.6 billion).

This figure represents a 22.4% increase from the previous year, as reported by the Industrial Technology Research Institute (ITRI).

The integrated circuit (IC) manufacturing segment was the primary driver of growth, with a 28.4% year-on-year increase to NT$3.42 trillion (US$104.4 billion).

Taiwan’s semiconductor sector outpaced global industry growth in 2024, which was reported at 19.1%.

The ITRI forecasts that in 2025, Taiwan’s semiconductor growth will again exceed global growth, expected to be 11.2%.