According to Taiwan Semiconductor Industry Association (TSIA), the Taiwanese IC industry's shipment value, including design, manufacturing, packaging and testing, grew 14.8% year on year to reach NT$551.2 billion (US$18.5 billion; US$1=NT$29.8) in the second quarter of 2014. The IC design industry registered the strongest year-on-year growth of 19.7% to stand at NT$145.6 billion (US$4.9 billion) in the three months ended in June, followed by DRAM manufacturing, which rose 17.7% to around NT$66.5 billion (US$2.2 billion). TSIA projects that the industry's full-year shipment value in 2014 will arrive at NT$2.2 trillion (US$74.4 billion), up 17.4% year on year.