Taiwan's machinery exports surged 20.6% to US$12.27 B. in 2004

Taipei, Feb. 23, 2005 (CENS)--Taiwan's machinery exports amounted to US$12.366 billion in 2004, representing an annual increase of 20.6%, according to statistics compiled by the Taiwan Association of Machinery Industry (TAMI).

Of the top-six largest export items, in descending order, machine tools saw an annual export growth of 34%, plastics and rubber processing machinery grew 20%; pumps, fans and compressors, 16%; special-purpose machinery, 48%; woodworking machinery, 16%; and valves, 20%. The top-six items accounted for 51% of the total exports.

Top-15 export outlets for the products, in descending order, were Hong Kong and mainland China together with an annual growth of 15%, the U.S. (27%), Japan (13%), Thailand (29%), Vietnam (3%), Malaysia (18%), Indonesia (22%), Germany (32%), Turkey (34%), Canada (18%), United Kingdom (32%), South Korea (39%), India (51%), Singapore (42%), and Italy (11%). The top-15 outlets absorbed 84% of the total exports.

The TAMI statistics also showed Taiwan imported US$18.178 billion worth of machinery last year, up 52.4% from the previous year.

Of the top-six import items, special-purpose machinery saw imports grow 53% annually, machine tools (130%), followed by pumps, fans, and compressors with 35%; engines and related components 42%; plastic and rubber processing machinery 13%; and valve 43%.

The top-six import sources of the products, in descending order, were Japan which saw an annual growth of 49%, the U.S. (85%), Germany (36%), Hong Kong and mainland China together (67%), South Korea (70%), and Switzerland (39%). The top-six import sources accounted for 91% of the total imports.

TAMI vice president Wang Cheng-ching noted the imported machines were mainly employed by such hi-tech industries as TFT-LCD (thin film transistor-liquid crystal display) panels, semiconductors, communications, and information-technology products.