Taiwan's machinery exports up 14% to US$1.9 B. in first two months

Taipei, May 9, 2005 (CENS)--Taiwan's machinery exports for the first two months of the year grew 14% year-on-year to reach US$1.912 billion, according to customs-cleared statistics compiled by the Taiwan Association of Machinery Industry (TAMI).

The leading export items of Taiwan-made machines in the period, in descending order, were machine tools exports of US$368.49 million, up 30% annually; plastics and rubber processing machinery with US$140.19 million, up 6%; pumps, compressors and fans with US$139.91 million, up 2%; special-purpose machines with US$112.12 million, up 15%; woodworking machines with US$111.59 million, up 13%; valves with US$122.1 million, up 10%.

Other major export items went to molds and dies, textile machinery; sewing machinery; bearings, gears and ball screws; papermaking and printing machines; and leather and shoemaking machines.

In terms of major outlets for Taiwan-made machines, Hong Kong and mainland China together ranked first by absorbing US$632.24 million worth of the products in the first two months of this year, up 1% annually and commanding 33.1% of the island's total machinery exports. The U.S. ranked second with US$343.17 million, up 14% and accounting for 17.9% of the total. The third place went to Japan with US$112.94 million, up 17% and accounting for 5.9%.

Other major export outlets included Thailand, Vietnam, Indonesia, Malaysia, Turkey, Germany, Canada, United Kingdom, Italy, India, South Korea, Australia, Singapore, the Netherlands, the Philippines, Spain, France, Mexico, Saudi Arabia, United Arab Emirates, Finland and Russia.

The TAMI statistics also showed Taiwan imported US$2.966 billion worth of machinery in the first two months of this year, representing an annual increase of 26.9%.

In respect of the largest import items, special-purpose machinery ranked first with import value reaching US$989.05 million, up 40% year-on-year and accounting for 33.3% of Taiwan's total machinery imports for the period. The second place went to machine tools with US$222.93 million, down 11% and commanding 7.5% of the total. The third place went to pumps, fans and compressors with US$171.16 million, up 28% and commanding 5.8%. Engines and related components ranked fourth with US$146.41 million, shooting up 240% and accounting for 4.9%. Valves stood at the fifth place with US$72.21 million, up 13% and accounting for 2.4%. Other major import items, in descending order, were plastics and rubber processing machinery, and textile machinery.

Japan was the largest import source of machinery, supplying US$1.665 billion worth of the product to Taiwan in the first two months of this year, up 33% annually and accounting for 56.1% of the total imports. The U.S. ranked second with US$545.46 million, up 10% and commanding 18.4%. Germany stood at the third place with US$190 million, up 22% and accounting for 6.4%. Other major import sources included mainland China, South Korea, Switzerland, United Kingdom, Italy and France.

Wang Cheng-ching, vice president of the TAMI, predicted Taiwan's machinery exports to grow 15% to 20% year-on-year and forecast the industry's output value to expand 15% this year. He further said the appreciation of the New Taiwan dollar against the U.S. greenback would be the most critical factor affecting performances of the domestic machinery industry for the rest of this year.

Exports of Taiwan Machinery in Jan.-Feb. 2005 by Products Unit: US$1,000
Rank	Products	Jan.-Feb. 2004	Jan.-Feb. 2005	Change (%)
1	Machine Tools	283,888	368,495	30
2	Plastics & Rubber Machinery	132,353	140,198	6
3	Pumps, Compressors, Fans	137,165	139,912	2
4	Special-Purpose Machinery	97,286	112,129	15
5	Woodworking Machinery	98,929	111,598	13
6	Valves & Parts	92,823	102,219	10
7	Molds & Dies	84,158	87,667	4
8	Textile Machinery	79,666	80,143	1
9	Sewing Machines	77,348	79,877	3
10	Bearings, Gears, Ball Screws	59,992	72,327	21
11	Papermaking, Printing Machines	25,349	36,776	45
12	Leather & Shoemaking Machines	19,646	16,604	-15
	Others	495,956	564,680	14
	Total	1,684,559	1,912,625	14
Source: Taiwan Association of Machinery Industry