September 6, 2005
Taiwan's machine tool exports grew 30.5% on the year to
NTD 75.2 billion in 2004, earning the nation a ranking of fourth globally, according to figures released by the Directorate-General of Budget, Accounting and Statistics in mid August.
Taiwan's machine tool makers have always relied primarily on export markets for the bulk of their business. Consequently, the value of machine tool exports dropped slightly to
NTD 45.9 billion in 2001 as a result of the general global economic downturn. However, the improving world economy has led to increasing exports since then.
China together with Hongkong remained the main export market for Taiwan's machine tools in 2004. However, the percentage of Taiwan's machine tool exports that go to this destination has gradually declined in recent years, falling from 49% in 2002 to 48.4% in 2003 and ultimately hitting 45.5% in 2004. The United States and Turkey, at 8.7% and 5.7% respectively, were the second and third biggest export markets for Taiwan's machine tools in 2004.
The total production value of machine tools in Taiwan reached
NTD 96.51 billion in 2004. This moved Taiwan up one spot from 2003 to fifth globally for machine tool production value.
(Central News Agency)
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