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In recent years, Taiwan’s "mechanical transmission equipment industry", "pumps, compressors, stopcock and valve industry", "other general equipment and machinery", and other relevant industries have increased their production indexes, mainly because of the active demands for smart automation equipment which has driven the increase in overall output.
The trade war and the epidemic have impacted the global economy. No country can stay aside. As the world's top three exporters of machine tools, Japan is also facing the dilemma of a simultaneous decline in export and domestic demand! Although the orders from China in June ended Japan’s 27 consecutive months of negative growth over the same period, the machine tool industry’s demand for face-to-face with customers and delivery of machine installations has stagnated because the restrictions on movement have not been lifted, and the original production plan in the case of delay or contraction, all localities remain cautious about investment. Facing the impact of the epidemic, Japan’s Ministry of Economy, Trade, and Industry have also offered relief measures for manufacturers, including rent, working capital, preferential loans, and trade insurance, to avoid large-scale corporate failures in the country, and encourage Japanese companies to increase capital investment. Maintain the momentum of economic growth.
Looking back at the continuous fluctuations in global economic and trade conditions in 2019, the global economy is in a high degree of uncertainty, and the overall output value of Taiwan's machine tool industry in 2019 will be affected.
Japan is one of the leading countries in the machinery industry, with superb machinery manufacturing technology, and the output value of the machinery industry accounts for about half of Japan's overall manufacturing industry.
From January to June 2020, Vietnam's industrial production index increased by 2.71% compared to the same period last year (2019).
Affected by the two major economies of the United States and China, global trade trends have subsided, and the Asian economy has also suffered greatly.
The world's major exporters of machine tools are concentrated in Asia, the European Union and North America. In 2019, the German machine tool market ranked Germany as the world's largest exporter. In 2019, the export of machine tools was 9.17 billion US dollars.
The China-US trade war has impacted the global economy. Under this volatility, let's take a look at the 2018 machine tool market overview. The major consumer countries of global machine tools are China, the United States, Germany, Japan, Italy, South Korea, India, Mexico, Taiwan, and Russia.
The U.S.-China trade war has been on the rise for more than a year, and both sides have become more and more fierce. The economy has been affected by the recession and the global manufacturing supply chain has also accelerated. Although Taiwan has benefited from this wave of trade wars in the short term, it may still suffer a lot in the long run. Also, the influence of other Asian countries affects the layout of Taiwanese businessmen. In the face of complex situations, we must be prepared to respond.
Machine tools can be said to be the mother of various industries, and countries have different marketing strategies based on their production manpower and resources.
A difficult international situation, a virus, and trouble in different industries, it will not be an easy year for the machine tool industry. Find out why 2020 still holds a lot of potentials.
In March 2020, Japan's export and machine tool market decreased compared with the same period last year, and the market performance did not meet expectations.
In the first quarter of 2020, Taiwan's machinery industry was affected by the outbreak of scheduled epidemics, and machinery export orders fell.
According to the economic growth data currently released by the US Department of U.S. Bureau of Economic Analysis (BEA), in the third quarter of 2019, US private consumption reached a growth rate of 2.6%. Compared with private consumption, the growth rate of private investment is the lowest since President Trump ’s tenure, only 0.4%.
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