Taiwan's industrial production index (IPI) posted an on-year decrease of 26.03% in March 2009, with the manufacturing sector decreasing 26.78%, according to Taiwan's Bureau of Foreign Trade (BOFT) of the Ministry of Economic Affairs (MOEA).

Export orders amounted to US$23.94 billion last month, down 24.29% over March 2008, but up almost 19% sequentially.

BOFT predicted Taiwan may experience a negative 2.97% economic growth in 2009, compared to 0.12% GDP growth estimated for last year. Major contributing factors are stagnant export and import trade amid slower world and US economic growth, as well as a decline in investments and consumer confidence.