Taiwan's Machinery Output Value Increased 10% Year on Year During 1st Quarter

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May 30,2008

Taiwan's Machinery Output Value Increased 10% Year on Year During 1st Quarter According to statistics provided by Taiwan Association of Machinery Industry (TAMI), the output value of Taiwan's machinery reached NT$230 billion in the first quarter, up 10% year on year. The industry estimates that total output value in 2008 will account for NT$970 billion, recording a 10% increase year on year. Source from the Ministry of Economic Affairs in Taiwan reveals that apart from the Europe and US markets, Taiwan's machine tools industry also received orders from Mainland China and India. Under more relaxed tariff policies from India and the rapid development of the automotive parts manufacturing industry, Taiwan's machine tools and textile machinery are competitive in the Indian market. In addition, Taiwan's machine tools industry will benefit from the many construction projects initiated by the 2008 Beijing Olympics, Shanghai World Expo and Guangzhou Asian Games in China in the next few years, leading to strong demand from high-precision machine tools.

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