Machine tool exports down almost 20% in 8 months
CNATAIPEI -- Taiwan's machine tool exports for the first eight months of this year fell nearly 20 percent from a year earlier in reflection of a slow global economic recovery, government statistics showed Thursday.
September 21, 2013, 12:07 am TWN
According to the Directorate General of Budget, Accounting and Statistics (DGBAS), exports of locally made machine tools in the eight-month period totaled NT$68.6 billion (US$2.30 billion), down 18.9 percent year-on-year.
Market analysts said that amid caution on global economic fundamentals, many firms in the manufacturing sector have put their production expansion on hold, which has impacted machine tool sales.
The DGBAS said machine tools for metal cutting, which accounted for about 81 percent of Taiwan's total machine tool exports in the period, fell 22.7 percent from a year earlier to NT$55.3 billion.
Bucking the downtrend of the entire machine tool business, outbound sales of Taiwan-made mold tooling devices rose 1.3 percent from a year ago to NT$13.3 billion, the government agency said.
During the same period, Asian countries remained the largest buyers of Taiwan's machine tools, acquiring NT$39.6 billion-worth of products to make up 58 percent of the country's exports, the DGBAS said. Exports to Asia fell 18.4 percent from a year earlier.
In the same eight-month period, the DGBAS said, exports to China and Hong Kong fell 20 percent from a year earlier, while exports to six major partners in the Association of Southeast Asian Nations — Malaysia, Thailand, Singapore, the Philippines, Indonesia and Vietnam — dropped 15 percent.
Taiwan's machine tool exports to the U.S. and European markets totaled NT$23.1 billion, down about 20 percent year-on-year, with sales to the U.S. and Germany down 25.6 percent and 0.2 percent, respectively.