January-April Taiwan Machinery Products Import and Export Report

In the first four months of 2013, Taiwan’s machinery exports saw a negative growth, with an export value of $5.98 billion, reflecting a decline of 6.6% compared to the same period in 2012. When measured in New Taiwan Dollars (NTD), the export value reached NT$176.4 billion, marking a 7.2% drop year-over-year. Despite this, in 2012, Taiwan’s machinery exports had reached $20.7 billion, showing a modest increase of 1.7% from the previous year. However, the fourth quarter of 2012 witnessed a sharper decline, indicating underlying challenges in the sector. In January–April 2013, the total export value for Taiwan stood at NT$2,877.1 billion, rising by 0.6% compared to the same period in 2012. While electronics and information and communication products showed positive growth—up by 3.1% and 9.6%, respectively—steel and petrochemicals experienced negative growth, declining by 6.4% and 3.4%, respectively. Machinery exports, when measured in NTD, increased by 7.2%, but overall performance remained weak. Looking month by month, the export performance varied significantly. In January 2013, exports were NT$45.5 billion, down slightly by 0.6%. February saw a sharp decline of 28%, with exports reaching NT$31.8 billion. March rebounded slightly with a 0.1% decrease, while April recorded a 2.0% increase, showing some signs of recovery. Taiwan’s main export markets for machinery included the mainland, the U.S., and Japan. The mainland was the largest market, with exports totaling $1.45 billion in January–April 2013, accounting for 27.5% of all machinery exports, though it showed a slight decline of 1.4% year-over-year. The U.S. followed with $987.63 million, up 0.2%, and Japan with $370.69 million, down 3.8%. Exports to the mainland fluctuated throughout the first four months of 2013. January saw a significant rise of 45.6%, while February dropped sharply by 46.5%. March recorded a 15.1% increase, and April ended with a 6.0% decline. Machine tool exports also faced challenges. From January to March 2013, the export value reached $777.05 million, up 21.7% year-over-year. However, the depreciation of the Japanese yen by over 20% in recent months has put pressure on international buyers, affecting demand for Taiwanese machine tools. Top markets for machine tool exports included the mainland, the U.S., and Thailand. The mainland accounted for 31.4% of exports, but saw a 23.5% drop year-over-year. The U.S. and Thailand followed, both experiencing double-digit declines. Other key markets, such as Turkey, Indonesia, Germany, India, and Brazil, also reported significant drops in machine tool exports, with negative growth rates ranging from 15% to over 35%. These top 15 markets accounted for about 82% of total machine tool exports. On the import side, machinery and equipment imports rose by 8.1% in the first four months of 2013, reaching $7.28 billion. In NTD terms, the value was NT$215.1 billion, up 7.4% year-over-year. Import trends showed fluctuations, with sharp increases in January and March, and declines in February and April. Japan was the largest source of machinery imports, accounting for 31.7% of total imports, though it saw a 5.1% decline. The U.S. and the Netherlands followed, with import values increasing by 26.5% and 21.5%, respectively. Globally, economic growth in 2012 was 2.6%, with Taiwan growing at 1.3%. In 2013, global growth is expected to remain around 2.6%, while Taiwan is projected to grow by 3.6%. Major export markets, including the U.S., Japan, and South Korea, are expected to see slower growth, which may impact machinery demand. Exchange rate fluctuations also played a critical role. The New Taiwan Dollar (NTD) appreciated against the U.S. Dollar in 2013, while the Japanese Yen depreciated significantly. This has affected the competitiveness of Taiwanese machinery in international markets. Additionally, the Economic Cooperation Framework Agreement (ECFA) between Taiwan and the mainland introduced early tariff reductions, influencing trade dynamics. Other Free Trade Agreements, such as the EU-Korea FTA and the US-South Korea FTA, have further shaped the global trade landscape. Raw material prices, particularly steel, have been volatile, adding uncertainty to production costs. As a result, manufacturers must remain agile, responding quickly to orders and currency fluctuations. These factors collectively highlight the complex challenges facing Taiwan's machinery industry in 2013.

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