According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), from January to September 2010, South Korea's cumulative total of new machine tool orders reached 2,540,112 million won, an increase of 99.1% over the 1,278,738 million won for the same period in 2009. Among them, in September 2010, South Korea's new machine tool orders were 253.83 billion won, a decrease of 7.04% from 273.402 billion won for the previous month, but an increase of 24.21% compared to 204.252 billion won in September 2009. In the past two months, new orders for machine tools in Korea have declined significantly. As the global economy recovers and the number of uncertainties increases, the machine tool industry may find it difficult to maintain its rapid growth in the first half of the year. The trend of the year may be high and low.
From January to September, South Korea's total production value of machine tools totaled 1987.12 billion won, an increase of 64.77% from 1,206.984 billion won for the same period in 2009. In September 2010, the output value of Korean machine tools was 247.613 billion won, an increase of 14.19% from 216.844 billion won for the previous month, and an increase of 51.95% from 162.956 billion won in September 2009.
In terms of import and export trade, from January to September, South Korea's total value of imported machine tools was 1.01 billion U.S. dollars, an increase of 28.34% over the same period last year of 787 million U.S. dollars. Among them, in September 2010, South Korea imported machine tools for 124 million U.S. dollars, a decrease of 4.26% from the previous month's 129 million U.S. dollars, and an increase of 25.06% from the 98.97 million U.S. dollars in September 2009. From January to September, South Korea exported machine tools totaling 1.165 billion U.S. dollars, an increase of 36.08% over the same period last year of 856 million U.S. dollars. Among them, in September 2010, South Korea exported machine tools to US$140 million, an increase of 6.34% from the previous month’s US$132 million, but it was 13.78% lower than the US$163 million in September last year; due to the recent economic recovery in Europe and the United States, the South Korean machine tool Exports have not yet fully recovered. In particular, the value of exports has dropped significantly in the past two months. Export recovery has been slower than the recovery of domestic demand.
At present, China is South Korea's largest machine tool export market. South Korea's machine tool manufacturers plan to develop products suitable for Chinese users' needs, thereby expanding their market share in China. From the following figure, the trend of single month export value of Korean export metal processing machine tools to China from January 2009 to August 2010 can be seen: In July 2009, South Korea's exports to China's metal processing machine tools gradually dropped to the lowest point. After that, volatility rebounded and the volume of imports in August all rebounded.
From January to September, South Korea's total production value of machine tools totaled 1987.12 billion won, an increase of 64.77% from 1,206.984 billion won for the same period in 2009. In September 2010, the output value of Korean machine tools was 247.613 billion won, an increase of 14.19% from 216.844 billion won for the previous month, and an increase of 51.95% from 162.956 billion won in September 2009.
In terms of import and export trade, from January to September, South Korea's total value of imported machine tools was 1.01 billion U.S. dollars, an increase of 28.34% over the same period last year of 787 million U.S. dollars. Among them, in September 2010, South Korea imported machine tools for 124 million U.S. dollars, a decrease of 4.26% from the previous month's 129 million U.S. dollars, and an increase of 25.06% from the 98.97 million U.S. dollars in September 2009. From January to September, South Korea exported machine tools totaling 1.165 billion U.S. dollars, an increase of 36.08% over the same period last year of 856 million U.S. dollars. Among them, in September 2010, South Korea exported machine tools to US$140 million, an increase of 6.34% from the previous month’s US$132 million, but it was 13.78% lower than the US$163 million in September last year; due to the recent economic recovery in Europe and the United States, the South Korean machine tool Exports have not yet fully recovered. In particular, the value of exports has dropped significantly in the past two months. Export recovery has been slower than the recovery of domestic demand.
At present, China is South Korea's largest machine tool export market. South Korea's machine tool manufacturers plan to develop products suitable for Chinese users' needs, thereby expanding their market share in China. From the following figure, the trend of single month export value of Korean export metal processing machine tools to China from January 2009 to August 2010 can be seen: In July 2009, South Korea's exports to China's metal processing machine tools gradually dropped to the lowest point. After that, volatility rebounded and the volume of imports in August all rebounded.
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