TAIPEI, Taiwan, September 22, 2011 /PRNewswire/ --
The island exported US$870 million worth of machine tools in the first quarter
Taiwan exported US$870 million worth of machine tools in the first quarter of 2011, which represented a staggering 63.3% year-on-year (YOY) growth. That's according to customs-cleared statistics compiled by the Taiwan Machine Tool Foundation (TMTF).
Of the total, the first-quarter exports of metal-cutting machine tools came to US$703.41 million, up 69.2% YOY. The total for metal-forming machine tools, meanwhile, amounted to US$166.59 million, up 42.4%.
Regarding major export outlets, China and Hong Kong ranked first together by absorbing US$369.41 million worth of machine tools from Taiwan in the first quarter. That's up 58.2% from 2010 and accounts for 42.5% of the total exports. Second place went to the United States with US$61.06 million, up 141.6% and commanding 7%. Turkey came in third with US$41.14 million.
Other major export destinations included Thailand, Brazil, India, Germany, Malaysia, Indonesia, and South Korea.
Taiwan's machine tool industry currently has the highest production among all categories in the machinery industry. What is more, 75% of the island's machine tool production goes to the export market. Taiwan's machine tool production reached US$4.8 billion in 2008 and exceeded South Korea for the first time since 2004 to become the fifth largest machine tool export country, following Japan, Germany, China, and Italy.
Taiwan's machine tool suppliers are set to play an even more important role in the global market. As the demand of the emerging Asian markets for national economic construction continues to increase, Taiwan's machine tool exports to the global market will expand from US$4 billion in 2011 to US$7 billion in 2015, at which time the island will have a chance to play for the number 3 spot in the world. Furthermore, it is expected that from 2011 to 2015, Taiwan has the potential to generate a total of US$30 billion worth of machine tool exports.
Taiwan also possesses four industrial machinary parks spread throughout the island. Major machine tool firms include Hiwin Technologies, an important supplier of key parts and components such as linear guideways and ball screws, and leading machine tool manufacturer Victor Taichung Machinary.
HIWIN's Energy-Saving & Thermal-Controlling Ballscrew: C1 Series recently received a 2011 Taiwan Excellence Gold Award for its design. It was made for application in high-speed machinery, CNC machines, and precision machine tools. Designed with a focus on energy conservation and environmental-friendliness, the device has already been awarded 21 patents from major industrial countries.
Taiwan Machine Tool Foundation (TMTF) http://www.tmtf.org.tw/english/ Hiwin Technologies http://www.hiwin.com/ Victor Taichung Machinery http://www.victor-cnc.com/
About Taiwan External Trade Development Council (TAITRA)
The Taiwan External Trade Development Council (TAITRA) was founded in 1970 to promote Taiwan's foreign trade and competitiveness in world markets. Over the past 40 years, TAITRA has played a key role in the development of the Taiwan economy. TAITRA is jointly sponsored by the government and commercial associations and is viewed by all as the business gateway to Taiwan for the international business community. Please visit http://www.brandingtaiwan.org or http://www.taiwantrade.com.tw for more information.
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SOURCE Taiwan External Trade Development Council