Taipei, Dec. 12, 2012 (CENS)--Taiwan’s 2012 exports of machinery are likely to slip from 2011’s US$21.1 billion in revenue based on 1.7% drop year-on-year in shipments for Jan.-Nov. and 9.1% decline in Nov. month-on-month.
President C.C. Wang of the Taiwan Association of Machinery Industry (TAMI) attributes the decreases mostly to the recent appreciation of New Taiwan dollar against U.S. dollar, weakening global economy and China’s lackluster demand for machinery.
According to the association’s statistics, Taiwan’s machinery shipments decreased 9.1% from October’s NT$49.8 billion (US$1.7 billion) to NT$44.5 billion (US$1.5 billion) in Nov. based on New Taiwan dollars.
But the decrease was only 0.5% year on year during the first eleven months, totaling NT$546.6 billion (US$18.8 billion) and based on NT dollars, but down 1.7% in U.S. dollar.
The association says China has been Taiwan’s top export destination for machines, to where shipments sank 9% year on year in the first eleven months, with those to India and Brazil also down 21% and 25%, respectively.
Taiwan’s machinery shipments to Southeast Asian nations were impressive Jan.-Nov., soaring 33% to Singapore, 35% to Thailand and 14% to Indonesia year on year.
America may be another promising market for Taiwan’s machinery as the U.S. government promotes overseas American industries to return home.
Wang estimates Taiwan’s machinery industry to export US$1.7-1.8 billion of products in Dec., adding that Taiwan’s machinery industry exported around 70% of output.
