The nation’s machinery exports in the first two months of this year rose 1.4 percent year-on-year, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report yesterday.
The association released the data for the first two months to avoid distortions from the week-long Lunar New Year holiday — which was mostly in January this year, but was in February last year — when many businesses and factories were closed.
Taiwan’s machinery exports are mainly comprised of inspection and testing equipment, electronic equipment and machine tools. Overseas shipments totaled US$4.37 billion in January and last month, up from US$4.3 billion in the same period last year, data compiled by the association showed.
Photo: EPA-EFE
The performance echoed the latest purchasing managers’ index for Taiwan’s manufacturing sector, which suggested an improvement in local firms’ operations on the back of more orders, higher production capacity and inventory growth, the Chung-Hua Institution for Economic Research (中華經濟研究院) said on Wednesday last week.
The latest data showed overseas shipments of inspection and testing equipment increased 2.5 percent annually to US$756 million, while electronic equipment shipments rose 14 percent to US$730 million during the first two months.
Exports of machine tools in the first two months declined 18.9 percent year-on-year to US$273 million, with metal-cutting machine tools exports falling 22.2 percent to US$215 million and metal-forming machinery sliding 3.6 percent to US$57.18 million, which was attributed to weak demand.
As many Taiwanese firms received orders and buyer inquiries during the Taipei International Machine Tool Show last week, the association said it maintains a cautiously optimistic view of the segment going forward.
The US and China remained the two largest buyers of Taiwanese machinery products in the first two months at US$1.19 billion and US$923 million respectively, the association said.
The US accounted for 27.2 percent of the nation’s total exports, followed by China at 21.1 percent and Japan at 8.6 percent, whose total purchases reached US$374 billion, the report showed.
Taiwan’s machinery exports to China fell by 1 percent in the first two months, while those to the US rose 8.7 percent, the report said.
Although machinery products might not be directly affected by US President Donald Trump’s trade policies, indirect impacts would be inevitable, as US tariffs could trigger a global trade war, the association said.
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