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News Release from: Manufacturing Technologies Association
Edited by the Manufacturingtalk Editorial
Team on 16 March 2006
UK machine tool exports rise by 9%
Exports of metal working machine tools from the UK were worth GBP 438.0 million, an increase of +9.0% on 2004, while imports increased by +6.1% to GBP 404.0 million.
Exports of metal working machine tools from the UK were worth GBP 438.0 million, an increase of +9.0% on 2004, while imports increased by +6.1% to GBP 404.0 million, giving a trade surplus for 2005 of +GBP 34.0 million, the highest since 1982; furthermore, the run of three consecutive trade surpluses from 2003-05 is the longest since the 1980-83 period The growth in exports was generated by trade with the European Union, with deliveries to the EU25 growing by +21.2% compared to 2004; growth for the EU15 countries was even more rapid at +24.0%
This article was originally published on Manufacturingtalk on 13 Apr 2004 at 8.00am (UK)
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Although exports to the rest of the world were -1.8% lower than in 2005, there were still some countries with significant growth, led by China (+43.6%) and India (+54.1%).
In contrast, import growth was generated from outside of Europe, with arrivals from the European Union slightly lower than in 2004 (-1.6% for the EU15 and -1.0% for the EU25 countries).
Outside of Europe, increases in imports were led by Japan (+26.6%) and Taiwan (+53.0%).
Analysis by product type shows that the main contributions to the trade surplus came from CNC grinding machines (+GBP 30.1 million) and machining centres (+GBP 20.2 million).
The most significant trade deficits were for CNC lathes (GBP -21.2 million) and sawing machines (GBP -20.1 million).
Metal cutting machines accounted for 79% and metal forming machines for 21% of both exports and imports.
UK exports of machine tools in the 4th quarter of 2005 were worth GBP 125.0 million, a rise of +17.1% compared to the 3rd quarter of 2005 and +20.3% higher than in the 4th period of 2004.
On the same basis, UK imports were worth GBP 103.5 million, +7.7% up on the previous quarter, but -3.7% down on the same period a year ago.
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