Machinery exports hit all-time high for 2017 in Taiwan
Taiwan’s machinery exports climbed 21.1 percent year on year to an all-time high of US$25.6 billion in 2017, according to the latest statistics by the Ministry of Finance and Taiwan Machine Tool and Accessory Builders Association (TMBA).
Metal machine tools, which comprise 13 percent of total shipments, increased 15.6 percent to US$3.35 billion—the sixth best result globally. The top destination was mainland China at 35 percent, followed by the U.S., 11.1 percent; and Turkey, 4.3 percent.
Semiconductor equipment surged 59.1 percent to US$3.72 billion, while ball and roller bearing housings gained 31.7 percent to US$1.73 billion. The record results position Taiwan ninth and 13th worldwide, respectively.
Taiwan ranks 19th in the world for machinery exports, with the top three comprising Germany, mainland China and the U.S. in that order.
The MOF attributes the strong performances to robust international demand as firms ramp up automated production or expand capacities.
Echoing this assessment, TMBA said it anticipates further growth in local exports for 2018 as reflected by economic indicators like the purchasing managers’ index and continued recovery of the global economy.
Machinery is a key sector selected for domestic promotion under the five-plus-two innovative industries initiative. At the vanguard of government efforts to revitalize Taiwan’s economy, the initiative targets the five emerging and high-growth sectors of biotech and pharmaceuticals, green energy, national defense, smart machinery and Internet of Things, as well as focuses on promotion of two core concepts: circular economy and a new paradigm for agricultural development. (SFC-E)