Taiwan's machine tool exports shot up 65% to US$220 M. in Jan.

Taipei, April 12, 2005 (CENS)--Taiwan's exports of machine tools amounted to US$220.67 million in January, representing a year-on-year increase of 65.1%, according to customs statistics compiled by the Taiwan Machine Tool Foundation (TMTF).

Metal-cutting machine tools saw exports reach US$159.94 million in January, up 65% from the same month of last year, and exports of metal-forming machine tools reached US$60.73 million, up 65% too.

Of metal-cutting machine tools, electric discharge machines saw exports shoot up 146% in January from one year earlier, followed by machining centers with an export growth of 81%, lathes 72%, and grinding machines 52%, among others. In the metal-forming machine tool category, exports of stamping, pressing, and shearing machines grew 60% annually, and those of others increasing 87%.

In terms of major export outlets, Hong Kong and mainland China together ranked first by absorbing US$93.29 million worth of Taiwan-made machine tools in January, up 63% annually and accounting for 42.3% of the total exports. The U.S. stood at the second place with US$21.99 million, up 131% and accounting for 10%. The third place went to Turkey with US$11.86 million, up 7% and accounting for 5.4%. Other export outlets, in descending order, were Thailand, the Netherlands, Vietnam, United Kingdom, South Korea, Malaysia, Italy, Japan, Germany, Republic of South Africa, India, Singapore, Indonesia, and Brazil.

The TMTF's statistics also showed Taiwan imported US$118.41 million worth of machine tools in January, representing a year-on-year increase of 4%. Imports of metal-cutting machine tools amounted to US$110.14 million, up 6%, and those of metal-forming machine tools reached US$8.26 million, down 16%.

TMTF attributed to the decline in imports of metal-forming machine tools to the decreased demand for imported sophisticated machines by the hi-tech sector. TMTF said imports of machining centers and boring and milling machines grew 74% and 30% annually in January, respectively, with others encountering a slight decrease.

Japan was Taiwan's largest import source of machine tools by selling US$59.99 million worth of the products to the island in January, swallowing 50.7% of the total imports and down 3% from the same period of last year. The second place went to the U.S. with US$33.77 million, accounting for 28.5% and down 15% annually. Germany stood at the third place with US$8.83 million, accounting for 7.5% and up 23% year-on-year.

Exports of Taiwan-Made Machine Tools in Jan. 2005 by Products Unit: US$1,000
	Jan. 2004	Jan. 2005	Annual Growth (%)
EDM, Laser-Cutting Machines	4,941	12,164	146
Machining Centers	36,175	65,620	81
Lathes	22,147	38,034	72
Drilling, Boring, Milling Machines	18,835	21,364	13
Grinding Machines	7,655	11,609	52
Shaping, Sawing, Gearing Machines	7,101	11,149	57
Presses & Shearing Machines	30,112	48,229	60
Other Metal-Forming Machines	6,680	12,509	87
Total	133,646	220,678	65
Source: Directorate General of Customs, Ministry of Finance