Taiwan is Likely the Third-largest Machine-Tool Exporter in 2011

Taipei, Jan. 4, 2012 (CENS)--Thanks to the cross-Taiwan Strait ECFA (economic cooperation framework agreement), Taiwan will likely replace Italy as the world's third-largest exporter of machine tools in 2011.

Taiwan exported US$3.65 billion of machine tools in the first 11 months of 2011, a historic high. Eric Y.T. Chuo, chairman of Taiwan Machine Tool & Accessory Builders' Association (TMBA), said Taiwan will likely see whole-year exports of machine tools, excluding key components, exceed US$4 billion in 2011, also forecasting the nation to see machine-tool production value grow 5% to 10% year-on-year in 2012. Chuo is also chairman of Hiwin Technologies Corp., Taiwan's leading manufacturer of key components for machine tools.

The ECFA allows Taiwan's manufacturers of CNC (computer numerical control) horizontal lathes, CNC surface grinding machines, presses, shearing machines and textile machines to ship products duty-free to China beginning in 2012; while some key components of machine tools, including ball screws and linear guideways, were eligible for zero tariffs in 2011.

According to customs-cleared statistics compiled by the Taiwan Association of Machinery Industry (TAMI), Taiwan exported US$350 million of machine tools in November 2011, up 18.9% year-on-year, with cumulative sales of US$3.648 billion in the first 11 months of 2011, up 36.9% from a year earlier.

TAMI president C.C. Wang predicted Taiwan would likely see exports of machine tools reach US$4 billion in 2011 as long as the December exports will have been found to remain the same as in the preceding month.