Taiwan's Machinery Exports Show Promising Growth in First 2 Months of 2014
2014/03/31 | By Steve ChuangWith the global economy on the mend, Taiwan's machinery exports for the first two months of this year totaled US$2.854 billion, up 7.5% from the same period of last year, according to the latest statistics by Ministry of Economic Affairs (MOEA).
MOEA pointed out that exports to the U.S., Southeast Asia and Europe all showed promising growths during the period, except those to China mainly due to the Chinese New Year holidays.
Another positive sign of the industry's recovery is reflected in the industrial production index for domestic machinery manufacturers during January-February, which was 4.98% more than a year ago, stressed MOEA officials, who look forward to continuing growth in the first quarter following the fourth quarter of last year.
Last year, Taiwan's overall production value of machinery fell 7% to NT$600.3 billion (about US$20 billion), both the worst records since the global financial turbulence in 2009, with metal processing equipment suppliers as a whole posting the deepest drop of 22.6% in output value among other sectors.
But, MOEA emphasized that the downturn, which had caused local machinery manufactures to suffer 7-8% declines as a whole in the first three quarters of last year, eased significantly in the fourth quarter, when overall production value recovered to NT$158.3 billion (US$5.27 billion), edging down only 0.6% compared to NT$153.3 billion (US$5.11 billion) a quarter ago.
The recovery seen in the quarter, MOEA said, was largely attributable to strong demand from sectors of medical instrument and semiconductor equipment, which drove shipment of ball screws, linear guideways and general machines to improve the industry's performance as a result.
In the year, the industry's exports neared US$19.8 billion, down 1.6% annually, including US$5.286 billion in the fourth quarter, according to statistics by the Ministry of Finance.
Meanwhile, Taiwan Association of Machinery Industry (TAMI) reported that the industry's exports in February totaled US$1.35 billion, surging 24.7% from last February, mostly due to a low base. With insiders generally facing gradual turnarounds, TAMI predicts the industry's overall production value to show a 10% growth this year, mainly on such positive market factors as a brightening global economic outlook, soaring demand in China and Southeast Asia for auto and motor parts, molds and dies and ongoing recovery of aerospace and medical instrument industries in Europe. (SC)
| Output Value of Taiwan's Machinery Industry | ||||||||
| Period
| 2012
| 2013
| ||||||
| Q1
| Q2
| Q3
| Q4
| Q1
| Q2
| Q3
| Q4
| |
| Output Value
| NT$147.8 Bn.
| NT$168.2 Bn.
| NT$170.4 Bn.
| NT$159.3 Bn.
| NT$134.3 Bn.
| NT$154.4 Bn.
| NT$153.3 Bn.
| NT$158.3 Bn.
|