Taiwan's machine tool exports up 35.7% to US$1.01 B. in first half

Taipei, Aug. 30, 2004 (CENS)--Taiwan exported US$1.01 billion worth of machine tools in the first half of this year, up 35.7% from the corresponding period of last year, according to customs-cleared statistics compiled by the Taiwan Machine Tool Foundation (TMTF).

Exports of metal-cutting machine tools amounted to US$758 million in the first half, up 39% from the same period of last year, and those of metal-forming machine tools accounted for US$260 million, up 27%.

In terms of specific metal-cutting machine tools, machining centers saw exports grow by 50% in the same comparison period; lathes had an annual export growth of 46%; electric discharge machines, 36%; grinding machines, 33%; and boring and milling machines, 31%; with others growing at a slower pace.

In the metal-forming category, pressing, forging, and shearing machines saw exports grow by 33% annually in the first half of this year, with others growing at 6%.

As to export outlets, Hong Kong and mainland China together ranked first by absorbing US$475 million worth of Taiwan-made machine tools in the first half of this year, up 30% from the same period of last year and accounting for 46.7% of the total exports. The second place went to the U.S. with US$77 million, up 31% and accounting for 7.6% of the total. Turkey ranked third with US$57 million, up 114% and accounting for 5.7%. Other major export outlets included Thailand, Malaysia, Holland, South Korea, India, Italy, Germany, Japan, Vietnam, Britain, Singapore, Indonesia, South Africa, Canada, and Australia.

The customs-cleared statistics also showed Taiwan imported US$895 million worth of machine tools in the first half of this year, up 169% from the same period of last year. Imports of metal-cutting machine tools accounted for US$839 million, up 185%, and metal-forming machine tools commanded US$560 million, up 46%.

TMTF chief executive Wang Cheng-ching said the growth in imports can be attributed to the increased demand for advanced machine tools by the high-tech and conventional industries. Major import items were non-conventional machine tools, machining centers, and boring and milling machines. Wang further noted conventional industries such as automobile and metal products have seen recovered demand for foreign–made advanced machine tools.

Japan ranked first as Taiwan's largest import source of machine tools in the first half of this year with US$430 million, up 97% from the same period of last year and accounting for 48.1% of the total imports of the product. The U.S. ranked second with USS$342 million, up 509% and commanding 38.2% of the total. The third place went to Germany with USS$39 million, up 70% and commanding 4.4% of the total imports.

Wang said domestic manufacturers of machine tools saw substantial increase of orders received and the demand for shortening delivery time. Many producers in this line predicted they would see continued influx of foreign orders, especially from domestic market, mainland China, Southeast Asia, Southwest Asia, the U.S., and East European nations, in the second half of this year.

Seeing the outstanding performance of domestic machine-tool manufacturers, Wang called for them to introduce innovative products and raise added-value of their products to expand market shares globally.