Three of Taiwan's science parks have earned record amounts in both revenue and exports last year, the Ministry of Science and Technology (MOST) announced on Tuesday.
The three parks combined made a revenue of NT$ 2.37 trillion and exports of NT$ 1.5 trillion last year, marking a 2.94 percent and 9.91 percent increase from the past year respectively, a ministry official said in a press conference.
Of the industries that experienced the most growth in 2015, precision machinery sector ranked first with 19.32 percent, followed by the biotechnology sector with 15.25 percent, and the integrated circuit sector with 8.67 percent.
Chiu Chiu-hui, Director General of MOST's Department of Academia-Industry Collaboration and Science Park Affairs, told The China Post that growth in these sectors mirrors the rising demands for automation, medical equipment, smartphones, laptops, and communication-related microchips.
2016 saw a boom in the shipments of 16-nanometer, 20-nanometer, and 28-nanometer integrated circuits, marking a new high in exports, Chiu said, noting that Hsinchu Science Park saw an 18 percent year-on-year growth in exports while Central Taiwan Science Park rose by 14 percent.
However, Chiu added that Hsinchu Science Park's revenues of NT$1.395 trillion for 2016 marked a 5.61 percent year-on-year drop, the result of the trend of new manufacturing and IT companies moving down to central and southern Taiwan.
On the flip side, this migration has led to revenue increases for both Central Taiwan Science Park and Southern Taiwan Science Park by 3.1 percent and 16 percent, respectively.
Chiu said that the country's science parks can continue to experience growth despite the current global economic rebound and see development in the communications, precision machinery and biotechnology industries.
It is estimated that Hsinchu Science Park could see a 1.2 percent growth this year and Central Taiwan Science Park a 14.3 percent growth. Southern Taiwan Science Park, meanwhile, is most likely to retain its revenue levels from the past year, according to The China Post.