Japan and South Korea's machine tool orders both showed significant growth in the first quarter

Abstract Abstract: In 2011, with the gradual recovery of economic growth rate and strong market demand, orders in the machine tool industry showed a sharp increase. Since 2011, Japanese machine tool orders have continued to recover. At present, the orders of overseas machine tools have basically recovered to pre-crisis...

Abstract: In 2011, with the gradual recovery of economic growth rate and strong market demand, orders in the machine tool industry showed a sharp increase. Since 2011, Japanese machine tool orders have continued to recover. At present, orders for overseas machine tools have basically recovered to pre-crisis levels. In the first quarter, Japan’s cumulative machine tool orders amounted to 330.594 billion yen, an increase of 68.9% over the same period in 2010. It broke through 100 billion yen in three months. At the same time, the Korean machine tool industry also showed rapid development. In the first quarter, the cumulative number of new machine tools increased by 1,288.5 billion yen, a year-on-year increase of 77.5%, which is the best quarter in the near future.

Japanese machine tool orders increased by 49.5% year-on-year in the first quarter

In March 2011, the order value of Japanese machine tools was 113.365 billion yen, a slight increase of 0.6% from the previous month's 112.57 billion yen and an increase of 49.5% from March 2010. Orders for Japanese machine tools have increased for 16 consecutive months and have exceeded 100 billion yen for three consecutive months. From the domestic and international demand, in March 2011, Japan's domestic machine tool orders amounted to 31.953 billion yen, down 14.6% from the previous month, up 65.7% year-on-year; overseas machine tool orders were 81.412 billion yen, up 7.6% from the previous month. The increase was 43.9%. JMTBA said that despite the earthquake and tsunami disaster in Japan on March 11, there were no reports of a large number of machine tool orders being cancelled and equipment factory equipment being seriously damaged.

From January to March 2011, the cumulative machine tool order in Japan was 330.594 billion yen, an increase of 68.9% over the same period in 2010. Among them, Japanese machine tools accumulated domestic orders of 100.567 billion yen, an increase of 84.2%; cumulative overseas orders were 230.027 billion yen, an increase of 63%.

South Korean machine tool orders increased by 77.5% year-on-year in the first quarter

In the Korean auto and parts, motors and electronics, general machinery and Other domestic demand industries, and the continued growth of the world's markets, orders for Korean machine tools increased significantly in March, indicating strong market demand. Among them, South Korea's local orders for the month were March 2011, and the value of Korean machine tools was 295.7 billion won, a slight increase of 21.1% from the previous month's 244.2 billion won, and an increase of 31.3% from March 2010's 225.1 billion won. In the first quarter, Korea's cumulative production of machine tools totaled 781.7 billion won, an increase of 31.5% over the same period in 2010.

China is the largest market for Korean machine tool exports. In the first quarter, South Korea exported 183 million US dollars worth of machine tools to China, up 51.1% year-on-year, accounting for 37.7% of its total exports, down 2.3 percentage points from 43% in 2010. The United States is South Korea's second largest export market, with exports to the US of US$58 million, a significant increase of 185.5% year-on-year, accounting for 12%. Germany ranked third, with an export value of US$47 million, a sharp increase of 574.1% year-on-year and a share of 9.7%.

 

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