Trade and export figures from Taiwan, where electronics is the major industry, not only illustrate the extent of the downturn but show that production is already on the increase.
The figures from the Taiwanese Office of National Statistics show that production of some electronic devices and components fell by as much as half in recent months but have already begun to pick up.
Production of PCs in Taiwan fell to 1.3 million units in December 2000, down from 1.5 million the previous month. The fall continued into January, when 911000 PCs were made.
But in February 2001, the number was back up at 1.26 million and March is expected to show a return to October levels.
Similarly, production levels of monitors fell to 518000 in December 2000 from 860000 in October. In January, levels fell to 399000, but February saw a pick up to 493000 and March is expected to show 563000 units.
NT$18.7bn (£400m) worth of PCBs were made in October 2000, a figure which had fallen to NT$12.8bn in January 2001. That has since risen to NT$14bn.
Taiwanese exports to the US fell progressively to $2.17bn in February 2001 from $3.15bn in October 2000, although they rose to $2.6bn in March.
Similarly, exports to the UK were down to $284m in January 2001, having progressively fallen from $410m in October 2000. The figures for February again show an increase reaching $309m.
But the figures show that total electronic product export orders received have fallen to $2.08bn in February, down from $3.4bn in October last year, while export orders for IT and communications products dropped to $1.86bn in February, down from $2.4bn in October 2000.