South Korea's machine tools increased orders by 99% year-on-year in the first three quarters

According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOM鄄MA), from January to September 2010, Korea’s cumulative new machine tool orders reached 2,540.112 billion won, an increase of 99.1% over the same period in 2009 of 1,275,838 million won. Among them, in September 2010, South Korea's new machine tool orders were 253.83 billion won, down 7.04% from last month's 273.402 billion won, but up 24.21% from September 2009's 204.352 billion won. In the past two months, new orders for Korean machine tools have dropped significantly. Due to the decline in the global economic recovery rate and the increase of uncertainties, the machine tool industry may be unable to maintain the rapid growth in the first half of the year. The annual trend may show a trend of high and low.
From January to September, the total value of total machine tools produced in Korea was 1987.12 billion won, an increase of 64.77% over the same period of 2009 of 1,059.84 billion won. Among them, in September 2010, the output value of Korean machine tools was 247.613 billion won, an increase of 14.19% from the previous month's 216.844 billion won, and an increase of 51.95% from the 162.596 billion won in September 2009.
In terms of import and export trade, from January to September, South Korea’s cumulative import of machine tools was US$1.01 billion, an increase of 28.34% from US$787 million in the same period last year. Among them, in September 2010, South Korea imported machine tools of $124 million, down 4.26% from last month's $129 million, an increase of 25.06% from September 2009's $98.97 million. From January to September, South Korea exported a total of 1.165 billion US dollars of machine tools, an increase of 36.08% over the 856 million US dollars in the same period last year. Among them, in September 2010, South Korea exported machine tools worth 140 million US dollars, up 6.34% from last year's 132 million US dollars, but down 13.78% from last September's 163 million US dollars; due to the recent slowdown in European and American economic recovery, Korean machine tools Exports have not yet fully recovered, especially in the past two months, the export volume has dropped significantly, and the rate of export recovery is slower than the recovery of domestic demand.
At present, China is Korea's largest machine tool export market, and South Korean machine tool manufacturers intend to develop products suitable for Chinese users' needs, thereby expanding their market share in China. From January 2009 to August 2010, the monthly export volume of South Korean exports of metalworking machine tools to China can be seen: In July 2009, South Korea’s exports to China’s metalworking machine tools gradually fell to the lowest point. The volatility rebounded and the amount of imports in August both rebounded.

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