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Engineering Industry Developments and Awards
News Release from: Manufacturing Technologies Association
Edited by the Engineeringtalk Editorial
Team on 19 October 2001
UK machine tool sector records EU
surplus
UK exports of metalworking machine tools in the 1st half of 2001 were worth £259.5 million, an increase of 23% over the value for the same period a year earlier
UK exports of metalworking machine tools in the 1st half of 2001 were worth £259.5 million, an increase of 23% over the value for the same period a year earlier; on the same basis, imports into the UK rose by 1% to £284.9 million This leaves a trade deficit of £25.4 million, compared to a £70.0 million deficit in the 1st half of 2000
This article was originally published on Engineeringtalk on 1 Dec 2005 at 8.00am (UK)
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Dispatches to the European Union (EU) amounted to £129.9 million (50% of the total), an increase of 16% compared to the 1st half of 2000; arrivals from the EU countries were lower by 14% on the same comparison, to stand at £100.1 million (35% of total imports).
This gives the UK machine tool industry a surplus on trade with the other countries of the European Union of £29.8 million in the 1st half of 2001.
The strong increase in exports recorded in the 1st half of the year is largely due to a weak start to 2000; comparison with the 2nd half of 2000 shows only a marginal increase - indeed the half year figures have been flat, apart from the weak 1st half of 2000, since the beginning of 1999.
For this reason, we do not expect the full year increase for exports to be of the same order as that registered in the period covered by this report.
Exports of CNC machine tools (within the above total) in the 1st half of 2001 increased by 27% on the same period in 2000 to £158.2 million (61% of total exports), while imports of CNC machine tools in the same comparison fell by 3%, to £159.2 million (56% of total imports); this gives a deficit for CNC machine tools of £1 million, compared to a deficit of £40 million in the 1st half of last year.
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