Taiwan’s Machine Tool Exports Hit New High Despite Recessions in Developing Markets
Resource from: CBCC Likes:2985
Jun 25,2012
In the first five months this year, Taiwan’s exports of machine tools hit a new high of over US$1.7 billion, increasing 9.70% from the same period of last year, in spite of declined exports to mainland China, India and Brazil.
In the Jan.-May period, Taiwan’s exports to mainland China, traditionally the island’s primary market for machine tools, declined 15.2% from the same period of last year. In the meantime, its exports to India dropped at an annual rate of 19.1% and shipments to Brazil sank 27.4% year on year.
By contrast, Taiwan’s machine tool exports to the U.S. shot up 95.3% year on year in the first five months of the year, and shipments to Thailand posted an annual expansion of 74.5%, and exports to Germany and Holland also surged significantly.
According to Taiwan Association of Machinery Industry (TAMI), behind Taiwan’s vibrant exports to the States is the vigorous enterprise procurements of capital equipment under the Obama administration’s stimulus policy. Devastating floods plaguing Thailand last year also inspired tool buyers to shift supply sources from Thailand to Taiwan.
Compared with America and Thailand, investment sentiments in the Chinese mainland, India and Brazil have become cautious, according to the TAMI. Moreover, many of mainland China’s manufacturing industries are striving to upgrade quality by embracing Germany-made and Japan-made machine tools, reducing dependence on Taiwanese equipment makers. Since early this year, the mainland has imported US$1 billion of machine tools each month from Germany and Japan.
TAMI estimated Taiwan’s exports of machine tools and other machines to Europe and the United States to continue growing as long as global financial market would not fluctuate abruptly.
In May alone, Taiwan’s exports of machine tools were US$370 million, edging up 0.75% from the same month of last year. Nevertheless, TAMI noted that the increase rate is normal given the high comparison base of last year.
TAMI estimated Taiwan’s machine tool exports to grow 9-10% throughout this year to US$4.4-4.5 billion as long as the industry can maintain its exports at the May level in the remaining months of this year. Accordingly, the industry’s output value would likely climb to a new high of US$5.5 billion this year from last year’s US$5 billion.
Taiwan’s Major Export Destinations for Machine Tools (Jan.-May 2012)
(CBCC)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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