Resilinc’s President of Government, Aerospace, and Defense, Peter Guinto, sits down with Sourcing Journal to discuss the impact of the Taiwan Earthquake on industries like semiconductors and textiles.
A 7.4-magnitude earthquake rattled Taiwan early Wednesday morning, killing at least 10 people and injuring over 1,000 more. According to Taiwan‘s National Fire Agency (NFA), another 700 remain trapped or stranded in areas impacted by the earthquake throughout the country.
The quake was the strongest to rock the island nation of 23 million people since 1999, causing mass power outages and landslides and damaging dozens of buildings. But the direct impacts on Taiwan itself also could create a ripple effect on supply chains out of the country.
Textiles is one of many sectors that could see a disruption. As of 2022, according to data compiled by the Taiwan Textile Federation (TTF), textile and apparel exports out of the country amounted to $8.8 billion, with the island serving as home to 4,511 manufacturers.
“The textile manufacturing industry in Taiwan operates at every tier of the supply chain,” said Peter Guinto, vice president of president, government, defense and aerospace at Resilinc. “So there are fabric manufacturers—particularly a lot of artificial fibers are manufactured there into textile products that are exported for manufacturers in other places. There are finished textiles that are made there as well, so really every tier of the textile supply chain has potential for impact.”
