The Downward Trend of Machinery Industry Exports has Intensified
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The Downward Trend of Machinery Industry Exports has Intensified

In the first quarter of 2020, Taiwan's machinery industry was affected by the outbreak of scheduled epidemics, and machinery export orders fell.
Published: Apr 27, 2020
The Downward Trend of Machinery Industry Exports has Intensified

Taiwan Machinery Industry

Taiwan Machinery Industry Association released the first quarter of Taiwan machinery and equipment export news yesterday (10). Affected by the new coronary pneumonia epidemic, the value of exports in the first quarter was 5.97 billion USD, down 14.1% from the same period last year, the lowest in the past three years. The NT dollar was 179.5 billion yuan, a year-on-year decrease of 16.2%.

It is worth noting that in the first quarter, the total export value of machine tools as the main machinery and equipment exports was 553 million USD, a significant decrease of 24.7% over the same period last year. In addition to the global spread of the New Crown epidemic, the NT Dollar is a strong currency relative to the Japanese Yen and South Korean Won. As far as exports are concerned, it is best to export to the mainland within the month of March, a decline of only 11% compared with the same period last year.

Taiwan's machinery exports

The Taiwan Machinery Industry Association pointed out that the monthly export value of machinery and equipment in March was USD $ 2.219 billion, a decrease of 12.8% from USD $ 2.545 billion in the same period last year. If it is equivalent to NT $ 66.9 billion, it is 14.8% lower than the same period last year.

In the first quarter, the top three mechanical equipment exports were inspection equipment of 733 million USD, accounting for 12.8%, an increase of 1.5%; electronic equipment of 734 million USD, accounting for 12.3%, a decrease of 11.7%; machine tools of 553 million USD, accounting for 9.3%, a decline of 24.7%.

The total value of machinery and equipment imports in the first quarter was USD $ 10.52 billion, an increase of 3.4% over the same period last year. The top three in terms of import value are electronic equipment, with an amount of USD $ 4.661 billion, accounting for 44.2%, an increase of 4.4%; inspection and measuring equipment of USD $ 2.065 billion, accounting for 19.6%, an increase of 11.8%; turbines of USD $ 590 million, accounting for 5.7%, recession 10.3%.

The Machinery Association pointed out that the NTD in the first quarter appreciated by 2.53% compared with the same period last year.

At present, the exchange rate of the NTD to the USD is about 30.1 yuan, which is still a strong currency relative to the Japanese yen and South Korean won, which is not conducive to the export of Taiwan's machine tools.

Published by Apr 27, 2020 Source :cens

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