Taiwan Machinery Exports Amount to NT$244.8 B. in First 5 Months of 2012
2012/06/13 | By Steve ChuangTaipei, June 13, 2012 (CENS)--Affected by Taiwan's sluggish exports to China, the machinery industry saw its exports for the first five months of this year edge down 0.1% from a year earlier to NT$244.8 billion, according to the latest statistics compiled by the Taiwan Association of Machinery Industry (TAMI).
If calculated in the U.S. dollar, the industry's exports for the same period amounted to US$8.2739 billion, representing an annual decline of 1.5%, according to TAMI's report. In May alone, the industry's exports dropped 1.6% year-on-year to NT$54.1 billion.
Noteworthy is that the industry has kept a comparatively good shape so far this year, compared to the petroleum and ICT (information communication technology) industries, which suffered a 10% and 18.5% drop, respectively, in their aggregate exports for the past five months.
TAMI indicated that the industry's export decline in the January-May period resulted partly from stronger New Taiwan dollar over Korean won against the greenback, and partly from the fact that its shipments to China plunged nearly 20% year-on-year in the period, compared to the fact that exports to the U.S. surged 9.4% to command a 15.3% share of the total.
TAMI stressed that should Taiwan succeed in convincing China into lifting tariffs on more imported machinery from the island during the bilateral negotiation over follow-ups of ECFA (Economic Cooperation Framework Agreement) by the end of this year, the industry is likely to achieve export revenue of between US$22 billion and US$23 billion for entire the year, for a 3-5% increase over 2011.
Taiwan Machine Tool Industry's Exports by Destination Country from Jan. to May, 2012 | ||||
Ranking | Country | Export Value | Share | Year-on-Year Growth Rate |
1 | China + Hong Kong | US$2.4823 B. | 30.0% | -19.5% |
2 | The U.S. | US$1.2682 B. | 15.3% | 9.4% |
3 | Thailand | US$494.807 M. | 6.0% | 7.7% |
4 | Turkey | US$393.223 M. | 4.8% | 42.9% |
5 | Indonesia | US$284.520 M. | 3.4% | 15.9% |
6 | Vietnam | US$244.145 M. | 3.0% | -5.3% |
7 | Germany | US$241.489 M. | 2.9% | 2.5% |
8 | Singapore | US$229.903 M. | 2.8% | 84.6% |
9 | Korea | US$209.163 M. | 2.5% | 2.6% |
10 | India | US$186.222 M. | 2.3% | -25.4% |
11 | Malyasia | US$185.150 M. | 2.2% | -3.2% |
Others | US$2.0547 Bn. | 24.8% | ---- | |
Total | US$8.2739 Bn. | 100.0% | -1.5% |