Taiwan's machinery exports up 23% to US$9.14 B. in first 3 quarters

Taipei, Nov. 19, 2004 (CENS)--Taiwan's machinery exports amounted to US$9.14 billion in the first three quarters of this year, up 23% from the corresponding period of last year, according to statistics compiled by the Taiwan Association of Machinery Industry (TAMI).

Of major export machinery categories, machine tools posted an annual export growth of 36%, plastic and rubber processing machines 29%, fans and compressors 20%, special-purpose machines 51%, woodworking machines 20%, and valves 22%.

The largest 15 export outlets for Taiwan-made machines, in descending order, were Hong Kong and mainland China together with an annual growth of 19%, the U.S. with 28%; Japan 12%; Thailand 35%; Vietnam 5%; Malaysia 19%; Indonesia 17%; Germany 26%; Turkey 42%; Canada 19%; South Korea 44%; Britain 33%; Singapore 45%; India 62%; and Italy 10%. The top-15 export outlets accounted for 85% of Taiwan's machinery exports.

TAMI said Taiwan also saw a substantial growth in machinery imports in the first three quarters of this year. The largest import items included special-purpose machines which saw an annual growth of 52% in the period, followed by machine tools with a growth of 162%, plastic and rubber processing machines with 46%, engines and related parts with 29%, and valves with 45%.

Of the top six import sources, Japan posted an annual growth of 52% in exports of machinery to Taiwan, followed by the U.S. with a growth of 93%, Germany with 42%, Hong Kong and mainland China together with 71%, South Korea with 70%, and Switzerland with 19%.