Taiwan's machine tool exports drop in January
February 19, 2014, 12:13 am TWN
TAIPEI--Taiwan's machine tool exports fell in January, dragged down by worse-than-expected performance in China, the country's major export destination, a local industry group said Tuesday.
Amid global economic uncertainty, exports of Taiwan's machine tools totaled US$247.49 million in January, down 21.9 percent from the previous month and 13.8 percent year-on-year, preliminary statistics indicate.
Carl Huang, secretary-general of the Taichung-based Taiwan Machine Tool and Accessory Builders' Association, attributed the drop to worse-than-expected exports to China, which accounts for some 25 percent of Taiwan's total exports, and represented a slide of 40.5 percent from US$101.28 million in December 2012 to US$60.23 million.