Taiwan's machine tool export surges by 15.5% in 2017
Based on the statistics by the government, Taiwan Machine Tool & Accessory Builders’ Association (TMBA) has calculated the overall 2017 machine tool industry export value, and it is shown that the export of machine tools in December 2017 is 327 million USD, representing a 5.1% growth compared with November. The export value of cutting machines is 275 million USD, representing a 3.6% growth. And the value of forming machines is 51.6 million USD, representing a 13.8% growth.
From January to December, the total export value of Taiwan’s machine tools in 2017 reached 3.347 billion USD, a 15% growth compared with 2016. Among the exported, cutting machines contribute 2.794 billion USD, which represents a 17.1% growth rate, and the forming machines contribute 553 million USD, representing an 8.4% growth rate.
As the world economy continues to boom, it is expected that the export business of Taiwan would be further driven by nations with strong PMI growth. Germany, the Euro zone economic locomotive, together with Austria and Ireland, has strong PMI growth that rose to a high level. The PMI of the Euro zone in December 2017 reached 60.6. Besides the Euro zone, the UK, USA, China, and Japan also contributed to the world PMI growth, making the global PMI value in December 2017 a new high: 54.4. This is a new record since February 2011.
In 2017, the top 10 export nations of Taiwan machine tools are ranked as: China, USA, Turkey, Germany, Thailand, India, Vietnam, South Korea, Russia, and Netherland. On the top of the list, China is still the primary market for Taiwan’s machine tools and the related products. The export value to China was 1.172 billion USD, occupying 35% of the overall export value. This is a 26.8% growth compared to 2016. The export value to the USA was 371 million USD which occupying 11.1% of the overall export value. This is a 7.1% growth compared with 2016.
In 2018, Taiwan’s machine tool export value of January grew 22.9% compared with January 2017. Cutting machines contributed 249 million USD, representing a 24.2% growth, and forming machines contributed 50 million USD, representing a 17% growth. The top six export nations of Taiwan machine tools in January 2018 are China, the USA, India, Turkey, Thailand, and Vietnam. The growth rates of the above mentioned nations are 64.1%, 38.2%, 81.3%, 12.2%, 38.3%, and 172.1% respectively. The Tax Reform of the American government stimulated local manufacturers’ capital goods investment. This situation benefits Taiwanese suppliers in the machine tool industry, as Taiwan’s machine tools are competitive in price performance ratio, and many Taiwan brands have been adopted by American users due to long standing and high reputation. It is expected that, 2018 would be a year of better choice in machine tool business.
Data Provided by TMBA