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News Release from: Manufacturing Technologies Association
Edited by the Manufacturingtalk Editorial
Team on 19 September 2006
UK machine tool exports rise by 3%
In the 2nd quarter of 2006, exports of metal working machine tools from the UK were worth GBP 118.1 million; +3.8% higher than in the 1st period of the year and +3.9% above Q2/2005.
In the 2nd quarter of 2006, exports of metal working machine tools from the UK were worth GBP 118.1 million; +3.8% higher than in the 1st period of the year and +3.9% above Q2/2005 Confirming the positive feeling in the industry, current data shows that in the 2nd quarter of 2006, exports of metal working machine tools from the UK were worth GBP 118.1 million; +3.8% higher than in the 1st period of the year and +3.9% above the level of the 2nd quarter of 2005
This article was originally published on Manufacturingtalk on 13 Apr 2004 at 8.00am (UK)
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The cumulative total for the first half of 2006 is GBP 231.8 million, an increase of +12.4% on the same months last year.
The equivalent data for UK imports of metal working machine tools show that the 2nd quarter total was GBP 123.2 million, a quarter-on-quarter increase of +16.9% and +13.4% higher than the same period in 2005.
This gives an increase in the cumulative total for the first six months of +11.8%, with a total of GBP 228.5 million.
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As a result, although there was a small trade deficit in the 2nd quarter of -GBP 5.1 million, the first half of the year as a whole, is still in the black at +GBP 3.3 million.
By region, exports to the other EU25 countries fell -9.1% compared to the first half of 2005, with trade with the rest of the world +36.7% higher; this was led by increases of +32% for the USA and +103% for Japan, but none of the major non-European destinations saw a reduction in exports compared to the first six months of 2005.
Exports to China increased by 15% compared to the first half of 2005 and shipments to Malaysia more than tripled, as did exports to Dubai and Russia.
There was less of a contrast in the analysis of sources for imports, although with arrivals from the other EU countries up by +26%, non-EU imports only increased by +1%.
Because of the way the data is collected, care is needed in interpreting trends for specific EU countries, but it certainly appears that the increase was spread broadly across the continent - Switzerland (which is of course a non-EU country) was the only major European country to see a reduction in imports compared with the first half of 2005.
Analysis by product type shows that CNC Grinding Machines (+GBP 11.3 million) had the largest trade surplus for the first half of 2006, while the most significant trade deficit was for CNC Lathes (-GBP 8.2 million).
Metal cutting machines accounted for 79% and metal forming machines for 21% of exports; for imports the ratios were 75% and 25% respectively.
Commenting on the analysis, Andrew Manly, MTA director general said: "We are very encouraged by the current data as it reflects what we are hearing about an increase in business from our members; an increase which we hope to see continue for the rest of the year.".
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