Taiwan's exports of machine tools up 29.8% in first 2 months

Taipei, May 10, 2005 (CENS)--Exports of Taiwan-made machine tools amounted to US$368.49 million in the first two months of this year, representing a sharp annual growth of 29.8%, according to customs statistics compiled by the non-profit Taiwan Machine Tool Foundation (TMTF).

Of major product categories, metal-cutting machine tools saw export value hit US$271.31 million, up 31% annually and metal-forming machine tools witnessed exports surge 26% to NT$97.18 million.

Among metal-cutting machine tools, lathes saw exports grow 47% annually; machining centers, 42%; electric discharge machines, 41%; sawing machines, 35%; and the remaining items grew at a slower pace. Of metal-forming machine tools, pressing and shearing machines saw exports rise 20% annually and others, 47%.

In terms of the largest export outlets for Taiwan-made machine tools in the first two months of this year, Hong Kong and mainland China together ranked first by absorbing US$141.87 million wroth of the products, up 3% annually and commanding 38.5% of the total exports. The U.S. was the second largest outlet with US$39.93 million, up 90% and commanding 10.8%. The third place went to Turkey with US$21.15 million, up 53% and accounting for 5.7%.

Other major export outlets, in descending order, were Thailand, the Netherlands, United Kingdom, Malaysia, South Korea, Germany, Italy, Vietnam, Japan, India, Singapore, Indonesia, South Africa and Brazil.

The TMTF statistics also showed Taiwan imported US$222.93 million worth of machine tools in the first two months of this year, down 11.4% from the corresponding period of last year. Imports of metal-cutting machine tools amounted to US$208.7 million, down 10% and those of metal-forming machine tools came to US$14.22 million, down 26%.

TMTF CEO Wang Cheng-ching noted the decline of the machine-tool imports can be attributed to the slowdown of demand by hi-tech firms.

In terms of the largest import sources, Japan ranked first by supplying US$128.58 million worth of machine tools to Taiwan, down 1% year-on-year and accounting for 57.7% of the total imports. The U.S. ranked second with US$52.25 million, down 40% annually and commanding 23.4%. Germany ranked third with US$16.43 million, up 24% and commanding 7.4%.

Many domestic manufacturers of machine tools are optimistic about the prospects for the industry and foreign orders will mainly come from mainland China, Southeast and Southwest Asian nations, the United States. And East European nations.