Firms such as TSMC 2330.TW, TSM.N, the world's largest contract chipmaker, are major suppliers to Apple Inc AAPL.O and other global tech giants, as well as providers of chips to auto companies and lower-end consumer goods. The ministry cited the global economic slowdown, weak demand, continuous inventory adjustments by manufacturers and a a high comparison base period from the previous year for the contraction. The finance ministry said global inflation and tightening of monetary policy in major economies would keep weighing on external demand, coupled with risks such as the war in Ukraine and China-U.S. trade tension.