New orders for Korean machine tools have come down significantly in the past two months

According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), from January to September 2010, South Korea's cumulative total of new machine tool orders reached 2,540,112 million won, an increase of 99.1% from 1,278.838 billion won for the same period in 2009. Among them, in September 2010, South Korea's new machine tool orders were 253.83 billion won, a decrease of 7.04% from 273.402 billion won for the previous month, but an increase of 24.21% compared to 204.252 billion won in September 2009.

In the past two months, new orders for machine tools in Korea have declined significantly. As the global economy recovers and the number of uncertainties increases, the machine tool industry may find it difficult to maintain its rapid growth in the first half of the year. The trend of the year may be high and low.

From January to September, South Korea's cumulative production of machine tools worth 1987.12 billion won, an increase of 64.77% over the same period in the same period in 2009 1.205.84 billion won. In September 2010, the output value of Korean machine tools was 247.613 billion won, an increase of 14.19% from 216.844 billion won for the previous month, and an increase of 51.95% from 162.956 billion won in September 2009.

In terms of import and export trade, from January to September, South Korea's cumulative value of imported machine tools was 1.01 billion U.S. dollars, an increase of 28.34% over the same period last year of 787 million U.S. dollars. Among them, in September 2010, South Korea imported machine tools for 124 million U.S. dollars, a decrease of 4.26% from the previous month's 129 million U.S. dollars, and an increase of 25.06% from the 98.97 million U.S. dollars in September 2009. From January to September, South Korea exported 1.165 billion U.S. dollars worth of machine tools, an increase of 36.08% over the 856 million U.S. dollars of the same period last year. Among them, in September 2010, South Korea exported machine tools to US$140 million, an increase of 6.34% from the previous month’s US$132 million, but a decrease of 13.78% from the US$163 million in September last year. Due to the recent economic recovery in Europe and the United States, the export of Korean machine tools has not yet fully recovered. In particular, the export volume has dropped significantly in the past two months. The recovery of exports has been slower than the recovery of domestic demand.

At present, China is South Korea's largest machine tool export market. South Korea's machine tool manufacturers plan to develop products suitable for Chinese users' needs, thereby expanding their market share in China. From January 2009 to August 2010, the data on the monthly export volume of South Korea's exports of metal processing machine tools to China shows that: In July 2009, South Korea's exports to China's metal processing machine tools gradually fell to the lowest point, and then showed fluctuations. Sex rises, and the volume of imports in August all rebounded.