Baoyun Tong Hengwen Hengshi News: A Sharp Increase in Orders for Korean Machine Tools in the First Quarter, Imports and Exports Continue to Expand
The latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA) show that in March 2011, new orders for Korean machine tools reached 525.5 billion won, an increase of 34.3% from 391.2 billion won in the previous month, and a year-on-year increase of 75.3% compared to 299.7 billion won in the same period last year. In the first quarter, the cumulative new orders for Korean machine tools amounted to 1.2885 trillion yen, representing a year-on-year increase of 77.5%, making it one of the best-performing quarters recently.
From January 2010 to March 2011, changes in the trend of new orders for Korean machine tools
With the further recovery of domestic industries such as automotive and parts, electrical machinery and electronics, general machinery, etc., in South Korea, as well as the continuous growth of markets worldwide, there was a significant increase in machine tool orders in March, indicating strong market demand. Among them, domestic orders in Korea for the month were 291.4 billion won, an increase of 53.3% month-on-month; export orders were 234.1 billion won, an increase of 16.4% month-on-month.
In March 2011, the output value of Korean machine tools was 295.7 billion won, a slight increase of 21.1% from 244.2 billion won in the previous month, and an increase of 31.3% from 225.1 billion won in March 2010. In the first quarter, the cumulative production value of machine tools in Korea totaled 781.7 billion won, representing a year-on-year increase of 31.5%.
From January 2010 to March 2011, changes in the trend of output value of Korean machine tools
In addition, in March, the shipment volume of Korean machine tools was 293.8 billion won, an increase of 12.2% month-on-month. In the first quarter, the cumulative shipment volume of Korean machine tools was 798.2 billion won, representing a year-on-year increase of 45.7%.
In terms of import and export trade, in March 2011, the value of imported machine tools in Korea was 151 million US dollars, an increase of 11.7% month-on-month and 22.8% year-on-year; machine tool exports were 176 million US dollars, an increase of 12.6% month-on-month and 55.8% year-on-year. In the first quarter, the cumulative value of imported machine tools in Korea was 423 million US dollars, an increase of 35.8% compared to 312 million US dollars in the same period of 2010; the cumulative export of machine tools was 485 million US dollars, an increase of 67.7% compared to 289 million US dollars in the same period of 2010. With imports and exports maintaining a level of over 1 billion US dollars per month for 10 consecutive months and 13 consecutive months respectively, Korea's machine tool trade achieved a trade surplus of 62 million US dollars in the first quarter of 2011.
From January 2010 to March 2011, changes in the trend of import and export of Korean machine tools
China is the largest market for Korean machine tool exports. In the first quarter, the value of Korean machine tool exports to China was 183 million US dollars, an increase of 51.1% year-on-year, accounting for 37.7% of its total exports, down 2.3 percentage points from 43% in 2010. The United States is the second-largest export market for Korea, with exports to the U.S. amounting to 58 million US dollars, up 185.5% year-on-year, accounting for 12% of the share. Germany ranks third, with export value reaching 47 million US dollars, surging 574.1% year-on-year, accounting for 9.7% of the share.
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