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News Release from: Manufacturing Technologies Association
Edited by the Manufacturingtalk Editorial
Team on 11 October 2005
UK machine tools report small trade
surplus
UK exports of machine tools in the 2nd quarter of 2005 were GBP 113.6 million, a rise of +22.7% compared to same period 2005 and +12.3% higher than 2nd period of 2004.
UK exports of machine tools in the 2nd quarter of 2005 were worth GBP 113.6 million, a rise of +22.7% compared to the 1st quarter of 2005 and +12.3% higher than in the 2nd period of 2004 On the same basis, UK imports were worth £108.6 million, +16.9% up compared to the previous quarter and +13.2% up on the same period a year ago
This article was originally published on Manufacturingtalk on 13 Apr 2004 at 8.00am (UK)
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For the first half of the year, exports were worth GBP 206.3 million, an increase of +1.3% on the first half of 2004, while imports increased by +14.1% to GBP 204.5 million.
This gives a trade surplus for the first half of 2005 of +GBP 1.8 million.
Compared to the 1st half of 2004, deliveries to the European Union increased, while exports to the rest of the world fell.
Exports to the USA fell sharply, although only back to the level seen in 2003, suggesting that this is a reflection of a good start to 2004.
There was a similar trend for China, although here the fall in exports in 2005 was not as large and this year's total is the 2nd highest on record for the first six months (behind only the 2004 figure).
For imports, the pattern of trade was reversed, with arrivals from the EU slightly lower than in the same period of 2004, but a strong increase in imports from the rest of the world.
This was led by large percentage increases for Japan, Taiwan and South Korea, although imports from China, Canada, Australia and Turkey also rose significantly.
Analysis of the data by product type shows a strong surplus in Machining Centres (+GBP 15.2 million) and CNC Grinding Machines (+GBP 15.2 million), while the largest trade deficits was for CNC Lathes (-GBP 15.8 million).
Within total exports, metal cutting machines accounted for 82% and metal forming machines for 18%; for imports the ratios were 77% and 23% respectively.
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