📊Executive Summary

Taiwan's economy is facing a challenging year, primarily due to a significant slump in global semiconductor sales, which has led to a mild recession. The semiconductor sector, crucial for Taiwan's economy, is projected to see a decline in export demand, with exports of integrated circuits contributing nearly 25% to the GDP. The global semiconductor market is expected to decline by 4.1% in 2023, which will negatively impact Taiwan's manufacturing activities. Additionally, climate-related challenges are further complicating semiconductor production. This situation necessitates close monitoring for procurement teams, particularly in the semiconductor sector, as it could affect component availability and pricing....