Taiwan's machine tool exports surged 36% to US$1.6 B. in first 9 months

Taipei, Nov. 19, 2004 (CENS)--Exports of Taiwan-made machine tools grew 36% year-on-year to reach US$1.6 billion in the first three quarters of this year, according to statistics compiled by the Taiwan Association of Machinery Industry (TAMI).

TAMI said machining centers and CNC (computerized numerically controlled) lathes were the fastest-growth export items, each enjoying an annual growth of some 50%.

Hong Kong and mainland China together were the largest export outlet for Taiwan-made machine tools by absorbing US$740 million in the first three quarters, up 30% annually and accounting for 46.3% of the island's total machine tool exports. The second place went to the U.S. with US$120 million, up 43% and commanding 8% of the total. Turkey ranked third with US$94 million, up 76% and accounting for 5.9% of the total.

Other major export outlets, in descending order, were Thailand, Malaysia, the Netherlands, South Korea, Italy, India, and the United Kingdom. TAMI noted the above-mentioned top-10 export outlets absorbed 78.6% of Taiwan's total machine tool exports.

The TAMI statistics also showed Taiwan imported US$1.38 billion worth of machine tools in the first three quarters, shooting up 162%. Non-conventional machine tools enjoyed the highest annual import growth of 252% in the period. The imported non-conventional machine tools were mainly used in such high-tech industries as semiconductors and optoelectronics.

Japan was the largest exporter of machine tools to Taiwan, supplying US$690 million in the first three quarters, up 104% year-on-year and commanding 50.4% of the island's total machine tool imports. The second place went to the U.S., exporting US$490 million worth of machine tools to Taiwan in the first three quarters, up 413% from one year earlier and accounting for 36.1% of the total. Germany ranked third with US$66 million, up 80% and commanding 4.8%. South Korea and Switzerland ranked as the fourth and fifth largest import sources, respectively.

TAMI noted the top-five above-mentioned nations supplied 95.4% of Taiwan's total machine tool imports.