Taiwan's machine tool exports, imports up sharply in first 5 months

Taipei, July 28, 2004 (CENS)--Taiwan exported US$830 million worth of machine tools in the first five months of this year, up 37.1% from the corresponding period of last year, according to statistics compiled by the Taiwan Machine Tool Foundation (TMTF).

The tallies showed that metal-cutting machine tools commanded US$626 million of the island's total machine tool exports in the first five months of this year, up 41% from the same period of last year. Metal-forming machine tools accounted for US$210 million, up 26%.

Of the major exported metal-cutting machine tools, machining centers saw the highest annual export growth of 54% in the first five months, followed by lathes with 48%, electric discharge machines with 39%, grinding machines with 36%, milling and boring machines with 32%, with others growing at a much slower pace. Of the metal-forming machine tools, forging and pressing machines grew 34% in exports, with others growing at an average of a mere 0.4%.

In terms of major export outlets, Hong Kong and mainland China together ranked first by absorbing US$393 million worth of domestically made machine tools in the first five months, up 32% from the like period of last year and commanding 47% of the total exports. The U.S. ranked second by absorbing US$61 million, up 21% and accounting for 7.4% of the total. Turkey took the third place with US$44 million, up 109% and accounting for 5.3% of the total. Other major export outlets included Thailand, Malaysia, Holland, South Korea, India, Italy, Germany, Japan, Vietnam, Britain, Singapore, Indonesia, South Africa, Canada, and Australia.

TMTF also noted Taiwan imported US$748 million worth of machine tools in the first five months of the year, shooting up 181% from the corresponding period of last year. Of the total imports, metal-cutting machine tools accounted for US$730 million, up 198%, and metal-forming machine tools commanded US$45 million, up 51%.

TMTF attributed the substantial growth in imports of machine tools to the increased demand for advanced imported products by high-tech and conventional industries. In terms of respective imported machine tools, non-conventional metalworking machines posted a whopping annual growth of 288% in the first five months, machining centers 63%, and milling and boring machines 110%.

Of the metal-forming machine-tool categories, imports of forging and pressing machines grew by 43% annually in the first five months of this year with others growing by 102%. TMTF said the substantial growth in machine tool imports was mainly fueled by increased demand of such industries as automotive, metal products, semiconductor, information, electronics, communications, and opto-electronics.

TMTF said Japan ranked first as Taiwan's largest import source by supplying US$358 million in the first five months of this year, up 102% from the same period of last year and accounting for 47.9% of the total. The U.S. ranked second with US$292 million, up 559% and accounting for 39%. Germany followed with US$32 million, up 73% and accounting for 4.4%.

According to a survey made by the TMTF, domestic machine-tool manufacturers have seen substantial growth in orders received since the spring of this year. Many predicted they would continue to see influx of orders for the rest of this year, especially from domestic market, mainland China, Southwest Asia, the Middle East, and Eastern Europe.