Product category:
Manufacturing orders, contracts, financial reports
News Release from: Manufacturing Technologies Association
Edited by the Manufacturingtalk Editorial
Team on 10 January 2008
UK Q3 machine tool exports grow
During the third quarter (Q3) of 2007, the UK exported machine tools worth GBP 126.5 million - an increase of 11.2% over Q3, 2006, and 12.2% higher than Q2, 2007.
In the third quarter (Q3) of 2007, UK machine tool exports were worth GBP 126.5 million, reported the UK's Manufacturing Technologies Association (MTA) to manufacturingtalk MTA said the figure was +12.2% higher than in the second period (Q2) of the year and +11.2% higher than Q3 in 2006
This article was originally published on Manufacturingtalk on 13 Apr 2004 at 8.00am (UK)
Related stories
MACH 2002 - already 95% subscribed
In the three months since the ballot for space held in February, MACH 2002 is already 95% subscribed, with 294 confirmed exhibitors having contracted space totalling 25,830
Stand bookings for Metalworking 2002 roll in
Exhibitor space sales for Metalworking 2002 are rising steadily as companies return contracts for their stands.
Because of a weaker start to the year, the cumulative total for the first nine months is only +0.5% higher than for the same period last year at GBP 347.3 million.
This growth has come from Europe with exports to the EU up by +18.7% on the first three quarters of 2006; exports to the rest of the world have fallen, although this is not true of every country, with an increase being recorded for India, South Korea and Canada (among others).
Q3 2007 imports of machine tools into the UK were valued at GBP 136.2 million, an increase of +7.4% on the Q2, 2007, but -0.6% lower than Q3, 2006.
Further reading
Recession - to be, or not to be?
On June 12, John Walker of the Oxford Economic Forecasting (OEF) unit made a presentation of the Machine Tool Trades Association's Forecast Update at the MTTA Regional Dinner.
Get set for the Skill CNC Competition
An all-expenses paid trip to partake in the World Skills Competition (Skill Olympics) could be the prize for two young manufacturing apprentices who win the Skill CNC Competition in May, 2002.
The cumulative total for the first nine months of the year is GBP 411.5 million, an increase of +12.6% on the same months during 2006.
The MTA said that this high figure had resulted from a high value import of CNC presses from Germany, worth around GBP 30 million, in the first half of the year.
As with the exports, it is Europe which is leading the growth in imports of machine tools, although this is affected by the one-off business noted earlier.
There was also an increase in the value of imports from Taiwan and South Korea, although arrivals from Japan and China fell slightly.
Looking by product type, there was a large trade surplus in the first nine months of 2007 for the following.
* CNC grinding machines (+GBP 19.4 million).
* Machining centres (+GBP 19.0 million).
At the same time, there is a significant deficit for the following.
* CNC presses (-GBP 49.2 million - see above).
* Physico-chemical machines (-GBP 22.8 million).
* CNC boring machines (-GBP 18.2 million).
* Sawing machines (-GBP 12.8 million).
Overall, there is a trade deficit of -GBP 29.1 million for metal cutting machines and -GBP 35.1 million in the metal forming sector.
MTA statistician, Geoff Noon, commented: "Many of the customer sectors supplied by MTA members have been busy this year and their demand is being driven by exports to Europe, so the increase we have seen is a reflection of this trend in the machine tool business.
It looks as though our forecast for exports will prove to have been too cautious, although there are a number of uncertainties in economies across the world at the moment which makes any sort of prediction difficult.".
• Manufacturing Technologies Association: contact details and other news
• Email this article to a colleague
• Register for the free Manufacturingtalk email newsletter
• Manufacturingtalk Home Page
Search the Pro-Talk network of sites
