April 15, 2008
Taiwan's machinery industry has enjoyed a strong start this year, according to the Taiwan Association of Machinery Industry (TAMI).
According to TAMI, machinery product exports grew by 7.3% year-on-year for the months of Jan. and Feb, and were worth approximately
USD 2.36 billion. Export growth was strongest in tool machinery and components, the association said.
The international market for machinery has looked upon Taiwan favorably. Exports of machinery equipment from Taiwan for the first two months of the year reached a new record high for year-on-year growth, which shows that the export market remains strong, said TAMI.
Machinery equipment imports also experienced large-scale growth in the first two months of the year, totaling approximately
USD 2.91 billion, a 25.8% year-on-year increase.
The large growth of imports shows an increased willingness to invest among local companies, particularly from the high tech industry, which is showing higher demand for equipment, said the association.
But as for the rest of the year, manufacturers are wary of rising prices. Higher steel prices and the appreciation of the NT dollar against the US dollar could be factors that influence overall machinery industry exports this year. Recently Taiwanese tool machinery manufacturers have raised their product prices between 3% and 8%, says TAMI's Vice President CC Wang.
Given these recent trends, when companies receive orders, they should request more flexibility, Wang said.
(Economic Daily News)
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