Taiwan’s machinery exports last year rose 5.1 percent to set a new record, even though demand started to tail off in the second half of the year, the Taiwan Association of Machinery Industry said on Monday.
Machinery exports totaled US$34.81 billion last year, as robust demand for electronics production equipment, as well as inspection and testing tools, in the first half of the year offset a weaker second half, data compiled by the association showed.
In New Taiwan dollar terms, exports of the machinery industry expanded 11.2 percent from a year earlier to NT$1.03 trillion (US$33.82 billion), the association said.
Photo: CNA
Backed by its strong export performance, local machinery firms posted a combined production value of NT$1.45 trillion last year, also a record, compared with NT$1.3 trillion in 2021, association data showed.
Last month, machinery exports fell 8.7 percent from a year earlier to US$2.73 billion, but rose 4.9 percent month-on-month, the association said.
The monthly gain indicated that Taiwanese machinery suppliers remained resilient and were still competitive on the global market, it said.
Exports of electronics production equipment led all machinery segments last year, rising 5.2 percent from a year earlier to US$5.08 billion, and accounted for 14.6 percent of total machinery exports, association data showed.
Exports of inspection and testing equipment ranked second, posting an increase of 9.3 percent to US$4.92 billion for a 14.1 percent share of all machinery exports, while machine tools, which rose 8.6 percent to US$3.02 billion for an 8.7 percent share, ranked third, the data showed.
China was the largest buyer of Taiwanese machinery, with purchases totaling US$9 billion, which accounted for 25.9 percent of total machinery exports, the association said.
The US ranked second, with purchases totaling US$8.9 billion for a 25.6 percent share of exports, followed by Japan, which imported US$2.13 billion of machinery, accounting for 6.1 percent of exports, the association said.
Exports to China were down 12 percent last year from a year earlier, but exports to the US were up 21.1 percent, reflecting efforts by local manufacturers to diversify their markets and reduce their dependence on China, the association said.
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