Taiwan's Machine Tool Exports Up 24.2% in First 7 Months

Taipei, Oct. 3, 2005 (CENS)--Taiwan's exports of machine tools totaled US$1.494 billion in the first seven months of this year, up 24.2% from the corresponding period of last year, according to statistics compiled by the Taiwan Machine Tool Foundation (TMTF).

Of total export sales, metal-cutting machine tools accounted for US$1.116 billion, up 25% year-on-year. Metal-forming machine tools commanded US$378.63 million, representing an annual increase of 23%.

In the category of metal-cutting machine tools, sawing machines experienced a 42% annual growth in export value, lathes advanced 34%, machining centers grew 33%, and electric discharge machines (EDMs) jumped 25%. Other metal-cutting machine tools grew more slowly.

Of metal-forming machine tools, presses and shearing machines posted an annual export growth of 18.1% in the seven-month period, with other categories growing 44%.

In terms of the major export outlets for Taiwan-made machine tools, mainland China and Hong Kong together ranked first by absorbing US$606.1 million worth of the products in the first seven months of the year, up 6% and accounting for 40.6% of total exports. The U.S. stood at the second place with US$143.35 million, up 52% annually and commanding 9.6% of the total. Turkey came third with NT$84.49 million, up 24% and with a 5.7% share of the total.

Other major outlets, in descending order, were Thailand, South Korea, Holland, the U.K., Malaysia, Vietnam, Italy, Germany, Japan, Singapore, Indonesia, India, Brazil, and Canada.

The TMTF tallies also showed Taiwan imported US$964.6 million worth of machine tools in the first seven months of this year, down 8.7% from the same period of last year. Of the total imports, metal-cutting machine tools accounted for US$887.69 million, down 10% annually, and metal-forming machine tools took US$76.91 million, up 18%.

TMTF chief executive Wang Cheng-ching attributed the decline in imports of machine tools to the slowing demand by domestic high-tech industries. Imports of non-conventional machine tools in the first seven months of 2005 plummeted 18% year-on-year. Imports of machining centers were down 18%; lathes were up 13%; drilling, boring, and milling machines were up 18%; and grinding machines were up 79%.

Japan was Taiwan's largest source of imported machine tools, supplying US$554.49 million worth of the products to Taiwan in the first seven months of this year, up 5% and commanding 57.5% of the island's total imports. U.S. followed with US$238.62 million, down 38% and accounting for 24.7%. Germany ranked third with US$49.11 million, down 1% and accounting for 5.1%.

Exports of Taiwan-Made Machine Tools for Jan.-July 2005 by Products Unit: US$1,000
Products	Jan.-July 2004	Jan.-July 2005	Annual Change (%)
EDM, Laser-Cutting Machines	65,235	81,223	24.5
Machining Centers	324,038	431,261	33.1
Lathes	206,821	276,768	33.8
Drilling, Boring, Milling Machines	166,312	154,489	-7.1
Grinding Machines	75,758	89,831	18.6
Shaping, Sawing, Gearing Machines	58,200	82,463	41.7
Presses & Shearing Machines	247,362	292,208	18.1
Other Metal-Forming Machines	60,180	86,425	43.6
Total	1,203,906	1,494,668	24.2
Source: Taiwan Machine Tool Foundation