Thu, Apr 14, 2016 - Page 14 News List

Nation’s machine-tool exports dive

By Aileen Chuang  /  Staff reporter

The nation’s machine-tool exports fell 20.5 percent to US$634.44 million in the first quarter from US$798.22 million a year ago as nine out of the 10 biggest exports markets declined, according to data compiled by the Taiwan Machine Tool & Accessory Builders’ Association (TMBA).

Among all machine tool products, exports of metal cutting machines fell 22.6 percent year-on-year to US$521.22 million in the January-to-March quarter, while those of metal-forming machinery also dropped by an annual rate of 9.1 percent to US$113.22 million, TMBA said in a statement on Tuesday.

By destination, machine-tool exports to China, the sector’s main export destination, fell 28.6 percent year-on-year to US$178.78 million in the first three months of the year from US$250.33 million, the Taichung-based trade association said.

Analysts said that many local manufacturers are not immune to a slowdown in China’s economic growth this year, which accounted for 28.2 percent of Taiwan’s total machine-tool shipments in the first quarter.

Exports to the US, the second-largest overseas market for Taiwan’s goods, declined by an annual rate of 16.8 percent to US$74.16 million from US$89.16 million a year ago, while outbound shipments to Turkey, the third-largest market, fell 17.1 percent to US$41.97 million from US$50.63 million, TMBA’s data showed.

The latest data showed Taiwan’s machine-tool exports registered an across-the-board annual decline in the first quarter, except for the Indian market.

Taiwanese goods sold to India slightly rose 4.2 percent annually to US$20.61 million from US$19.78 million.

India was the eighth-largest destination for Taiwan’s machine-tool exports, accounting for 2.5 percent of the total, data showed.

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