Taiwan's machinery exports up 23.6% in first 7 months

Taipei, Oct. 5, 2004 (CENS)--Taiwan's exports of machinery products amounted to US$7.014 billion in the first seven months of this year, up 23.6% from the corresponding period of last year, according to customs statistics compiled by the Taiwan Association of Machinery Industry (TAMI).

Of the major export items, machine tools ranked first with export value of US$1.204 billion for the first seven months of this year, up 36% from the like period of last year. Plastics and rubber processing machines ranked second with US$537 million, up 28%. Pumps, fans and compressors took the third place with US$531 million, up 23%. Special-purpose machines ranked fourth with US$438 million, up 54%. Valves ranked fifth with US$396 million, up 21%. Woodworking machines ranked sixth with US$392 million, up 20%.

Other major export items were molds and dies with export value of US$335 million, up 11%; textile machinery with US$324 million, up 7%; sewing machines with US$295 million, up 9%; bearings, gears and ball screws with US$243 million, up 19%; paper-making and printing machines with US$115 million, up 5%; leather and shoe-making machines with US$64 million, down 10%.

In terms of the outlets for Taiwan-made machines, Hong Kong and mainland China together ranked first by absorbing US$2.6 billion in the first seven months of this year, up 21% from the like period of last year and accounting for 37.2% of the total exports. The U.S. ranked second with US$1.238 billion, up 28% and accounting for 17.7%, and Japan followed with US$370 million, up 8% and accounting for 5.3%.

Thailand ranked fourth with US$311 million, up 32%, followed by Vietnam with US$222 million, up 8%; and Malaysia with US$187 million, up 27%. Other major export outlets included Indonesia, Germany, Turkey, Canada, South Korea, Britain, Singapore, India, Italy, Australia, the Netherlands, the Philippines, Spain, France, Saudi Arabia, and Russia.

On another front, Taiwan imported US$9.519 billion worth of machines in the first seven months of this year, up 49% from the corresponding period of last year. All of major import items posted a substantial growth.

The import value of special-purpose machines, which ranked first among the import items, amounted to US$3.03 billion in the first seven months of this year, up 39% and accounting for 31.5% of the total imports. The machines were mainly used by semiconductor, information technology, optoelectronics, and 3C (computer, communications, and consumer electronics) industries.

Machine tool ranked second with import value of US$1.056 billion, up 160% and accounting for 11.1% of the total imports. The third went to pumps, compressors, and fans with import value amounting to US$557 million, up 37% and accounting for 5.9%. Plastic and rubber processing machines ranked fourth with US$390 million, up 67% and accounting for 4.2%. Engines and components ranked fifth with US$378 million, up 36% and accounting for 4%. Valves ranked sixth with US$275 million, up 42% and accounting for 2.9%. The seventh went to textile machines with US$189 million, up 1% and accounting for 2% of the total imports.

TAMI vice president Wang Cheng-ching noted Taiwan's machinery imports were mainly supplied by the U.S. and Japan. In terms of the import sources, Japan ranked first by supplying US$5.05 billion in the first seven months of this year, up 43% from the like period of last year and commanding 53.1% of the total imports.

The U.S. ranked second with US$1.979 billion, up 87% and accounting for 20.8% of the total imports. The third place went to Germany with US$648 million, u p 41% and accounting for 6.8%. The fourth place was occupied by mainland China with US$480 million, up 70% and commanding 5.1% of the total imports. Other major import sources included South Korea, Switzerland, Italy, Britain, and France.

Wang analyzed Taiwan's machinery industry is very likely to enjoy a substantial growth in both production and exports this year because of the optimistic projections on the global economy made by some international renowned economic forecasting institutions.

Wang anticipated exports of Taiwan's machinery industry to grow by 20%- 25% and the production value to expand 23% this year.