Exports of machine tools grew 36% in the first eight months

Taipei, Oct. 29, 2004 (CENS)—Taiwan exported US$1.413 billion worth of machine tools in the first eight months this year, up 36% over a year-earlier period, according to statistics compiled by the Taiwan Machine Tool Foundation (TMTF).

Of this, exports of metal-cutting machine tools amounted to US$1.05 billion, up 38% year-on-year. Metal-forming machine tools scored US$363 million, up 31% annually.

In the sector of the metal-cutting machine tools, machining centers grew 49% year-on-year in the period; lathes grew 43%; electric discharge machines, 36%; grinding machines, 36%; milling and boring machines, 27%. The remainder grew at a relatively small pace.

In the sector of metal-forming machines, forging, pressing and shearing machines grew 38% annually in the first eight months, with other kinds of metal-forming machines advancing only 10%.

Hong Kong/mainland China was the largest export outlet of domestically made machines tools, absorbing US$658 million worth of the product in the first eight months, up 30% over a year earlier and accounting for 46.6% of the total exports. The U.S. ranked second with US$110 million, up 37% and taking a share of 7.8%. Turkey stood at the third place with US$86 million, up 95% and accounting for 6.1% of the total.

Other major export outlets, in descending order, were Thailand, Malaysia, the Netherlands, South Korea, Italy, India, Germany, Vietnam, Britain, Singapore, Japan, Indonesia, South Korea, Canada, and Australia.

TMTF's statistics also showed Taiwan imported US$1.236 billion worth of machine tools in the first eight months this year, up 171% over a year earlier. Of this, exports of metal-cutting machine tools hit US$1.163 billion, soaring 189% year-on-year, and metal-cutting machine tools amounted to US$73 million, up 33%.

Japan was the largest overseas supplier, selling US$610 million worth of machine tools to the island in the first eight months, up 101% year-on-year and accounting for 49.4% of the total import value. The U.S. ranked second with US$459 million, soaring 500% year-on-year and commanding 37.1% of the total. Germany stood at the third place with US$60 million, up 105% and accounting for 4.9%.

TMTF chief executive officer Wang Cheng-ching attributed the substantial growth of imported machine tools to the increasing need of domestic high-tech and conventional manufacturing industries. In the first eight months, imports of non-conventional machine tools skyrocketed 257% annually, machining-center imports jumped 113%, while that of milling and boring machines grew 60%.

In the metal-forming machine tool sector, imports of forging, pressing, and shearing machines grew 24% year-on-year in the first eight months. Imports of other kinds of metal-cutting machines leapt 89% in the same period.

Citing the customs statistics, Wang noted that such conventional manufacturing industries as automobile and metal products have imported increasingly large amount of foreign-made sophisticated machine tools over the past several years. Domestic high-tech industry has resumed imports of foreign-made sophisticated machine tools since the beginning of last year, reversing sharp declines in 2001 and 2002, according to Wang.