Taiwan's machinery exports up 22.7% in first 10 months of 2004

Taipei, Jan. 3, 2005 (CENS)—Taiwan's machinery exports reached US$10.23 billion in the first 10 months of 2004, up 22.7% from the corresponding period of the preceding year, the Taiwan Association of Machinery Industry cited statistics compiled by the Directorate General of Customs under the Ministry of Finance as saying.

Of the total exports, machine tools accounted for the largest portion of US$1.89 billion, up 35% annually. The second place went to plastic and rubber processing machinery with US$769 million, up 26% year-on-year. The third place was occupied by pumps, fans and compressors with US$741 million, up 18%. Special-purpose machinery ranked fourth with US$637 million, up 51%. Woodworking machinery stood at sixth with US$589 million, up 19%. The sixth ranking went to valves with US$571 million, up 22%.

Other major machinery items exported from Taiwan were, in descending order, molds and dies, textile machinery; sewing machines; bearing, gears and ball screws; paper-making and printing machines; and leather and shoemaking machines.

In terms of export outlets, Hong Kong and mainland China together ranked first by absorbing US$3.766 billion worth of Taiwan-made machinery exports in the first 10 months of last year, up 19% from the same period of the previous year and accounting for 36.8% of the total exports. The U.S. ranked second with US$1.824 billion, up 29% and commanding 17.8% of the total exports. The third largest export outlet went to Japan which took up US$531 million, up 12% and accounting for 5.2% of the total.

Other major export outlets were, in descending order, Thailand, Vietnam, Malaysia, Indonesia, Germany, Turkey, Canada, Britain, South Korea, Singapore, India, Italy, Australia, Holland, the Philippines, Spain, France, Saudi Arabia, and Russia.

TAMI noted Taiwan imported US$14.518 billion wroth of foreign-made machines in the first 10 months of last year, up 56% from the like period of the previous year. Major imported items were special-purpose machines (US$4.77 billion); machine tools (US$1.68 billion); pumps, fans, compressors (US$790 million); engines and components (US$560 million); plastic and rubber processing machines (US$510 million); valves (US$396 million); textile machinery (US$282 million).

Wang Cheng-ching, vice president of TAMI said Taiwan still relied on Japan and the U.S. for the supply of advanced imported machinery in the first 10 months of last year. Taiwan imported US$7.8 billion worth of machinery from Japan in the period, up 51% from the corresponding period of the previous year and accounting for 53.7% of the total imports. The U.S. ranked second with US$3.03 billion, up 92% and commanding 20.9% of the total imports. The third place went to Germany, which sold US$1 billion worth of machinery to Taiwan in the first 10 months of last year, up 45% one year earlier and accounting for 6.9% of the island's total imports.