Taiwan machinery exports to top NT$360 billion this year

Taipei, June 26, 2003 (CENS)--Exports of Taiwan-made machinery are set to break the NT$360 billion (US$10.4 billion at US$1:NT$34.5) mark this year, up 10% from last year, the Taiwan Association of Machinery Industry (TAMI) predicted.

According to statistics compiled by the Directorate General of Customs under the Ministry of Finance, Taiwan exported US$1.35 billion worth of machinery in the first two months of this year.

According to the U.S.-based Metalworking Industries, Taiwan was the world's sixth-largest producer of machinery in 2002, accounting for 5.7% of global output, and the fifth-largest exporter in the segment, accounting for 8.4% of the total.

TAMI vice president Wang Cheng-ching said Taiwan's overall output of general machinery amounted to US$13 billion last year, including about US$9 billion worth of automated and precision machinery. Wang said domestically made automated and precision machinery accounted for 2.7% of the world output in the segment last year.

Though Wang admitted that Taiwan still lags behind Japan, the U.S. and Germany in the production of automated and precision machinery, he stressed that Taiwan has made great strides in this field. "In terms of production of automated and precision machinery in 2002, Taiwan was in par with such industrialized nations as Italy, France, Britain and Switzerland."

Wang said exports of domestically made machinery grew at a favorable pace in 2002. The best-performing export categories last year were machine tools, woodworking machinery, plastic and rubber processing machinery, and textile processing machinery, which posted gains of 10% to 20% last year.

According to a TAMI survey, exports of Taiwan-made machine tools expanded by 9% last year and the growth momentum endured into the first quarter of this year.

Taiwan imported NT$4.2 billion (US$121.73 million) worth of plastic injection molding machines last year. The average price of imported plastic injection molding machines reached NT$3.3 million (US$95,650), fivefold that of domestically made models.

Wang said Taiwan imported NT$11.2 billion (US$324.63 million) worth of machine tools used by the semiconductor manufacturing industry last year, down 30% from the previous year. The average price of these machine tools reached NT$6 million (US$173,900).