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Taiwan Machine Tools | July 24, 2017

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Machine Tools Export Increased by 4.6% in Q1

Machine Tools Export Increased by 4.6% in Q1
Taiwan Machine Tools

Machine Tools Export Increased by 4.6% in Q1

(ChinaTimes)Thanks to the global economy recovery, countries like China, Vietnam, Turkey, Germany and Russia all have expanded procurement. Taiwan Association of Machinery Industry (TAMI) recently announced Taiwan’s first quarter machine tools export value to be US$ 814 million, declined by 4.6 percent compared to a year ago. Although metal cutting machine tools category increased by 9 percent, forming machine tools category decreased by 13 percent.

To analyze metal cutting tools by category, electronic discharge machines (EDM) increased the most by 21.4 percent. Machining center increased by 11.5 percent. Lathes category increased by 4.1 percent, drilling, boring, milling, and tapping machines grew by 12.9 percent. Grinding machine category had a growth of 11 percent. As for the forming machine tools, forging, punching machine declined by 4.9 percent compared to last year. Other forming machine tools had a negative growth of 36.4 percent.

Among the top three export markets, the number three market in Vietnam had the most impressive performance, netted a total export value of US$ 45.8 million, a substantial growth of 246 percent compared to last year; while China is still the number one market on the list, had a total export value of US$ 248 million, 30.5 percent of the Taiwan machine tools export, showed a growth of 7.6 percent compared to last year. United States ranked number two on the list, a total export of US$ 87.64 million, 10.8 percent of total exports, which declined by 9.5 percent compared to a year ago.

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