Taiwan's machine tool exports surged 35.5% in first 10 months of 2004

Taipei, Jan. 3, 2005 (CENS)--Overall exports of Taiwan-made machine tools amounted to US$1.809 billion, representing a year-on-year increase of 35.5%, the Taiwan Machine Tool Foundation (TMTF) cited statistics released by the Directorate General of Customs under the Ministry of Finance as saying.

Of this, metal-cutting machine tools commanded US$1.348 billion, up 38% annually and metal-forming machine tools accounted for the remaining US$461 million, up 28%.

In the category of metal-cutting machine tools, exports of machining centers grew 46%, those for lathes grew 45%, electric discharge machines 38%, grinding machines 37%, milling and boring machines 28%, with the remainder recording a small growth. In the category of metal-forming machines, tools, exports of forging, pressing, stamping, and shearing machines grew 36% and the others grew a mere 4%.

In terms of the outlets for domestically made machine tools, Hong Kong together with mainland China absorbed US$834 million worth of the products in the first 10 months of last year, up 29% year-on-year and accounting for 46.1% of the total exports. The U.S. ranked second with US$146 million, up 44% and accounting for 8.1%. The third place went to Turkey with US$105 million, up 71% and commanding 5.8% of the total. Other major export outlets were Thailand, Malaysia, Holland, South Korea, India, Italy, Germany, Britain, Vietnam, Singapore, Japan, Indonesia, South Africa, Australia, and Brazil.

The customs-cleared statistics also showed Taiwan imported US$1.608 billion worth of machine tools in the first 10 months of last year, up 165% from the corresponding period of the previous year. Of this, metal-cutting machine tools commanded US$1.519 million, up 183%; metal-forming machines grew 28% annually to reach US$89 million.

TMTF CEO Wang Cheng-ching attributed the import growth to the increased demand for imported machines by hi-tech and conventional industries. Major imported items in the first 10 months of last year were non-conventional machine tools, machining centers, boring and milling machines and the special-purpose machines used by hi-tech industry.

Japan was Taiwan's largest machinery import source, supplying US$810 million in the first 10 months of last year, up 107% from the same period of the previous year and accounting for 50.9% of the total imports. The U.S. stood at the second place with US$580 million, up 434% and commanding 36.1%. The third place went to Germany with US$69 million, up 72% and accounting for 4.3%.