UK machine tool trade figures still in deficit
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Manufacturing Technologies Association product story
Edited by the Engineeringtalk editorial team
Oct 21, 2003
UK exports of machine tools in the 1st half of 2003 were worth GBP 182.2 million, an increase of 0.3% compared with the 1st half of 2002.
UK exports of machine tools in the 1st half of 2003 were worth GBP 182.2 million, an increase of 0.3% compared with the 1st half of 2002, while imports into the UK were worth GBP 217.2 million, a rise of 0.2% on the same basis.
This gives a trade deficit of GBP 35.0 million, almost the same as the deficit of GBP 35.2 million recorded a year ago.
Since the MTA's last release of data, there have been some revisions to the 2002 figures, mainly affecting trade within the European Union (EU) and the trends continue to be distorted by some exceptionally high value items in the import series.
Partly as a result of the distortion from these high value items, the trends for trade in CNC machine tools are rather different.
Exports in the first half of 2003 were worth GBP 97.8 million (54% of total exports), a decline of 6.4% compared with the first half of 2002.
On the same basis, imports of CNC machine tools increased by 27.7% to GBP 127.9 million (59% of total imports).
Dispatches to the European Union (EU) in the first half of the year amounted to GBP 77.8 million (43% of all exports), which is 4% lower than in the first half of 2002; arrivals from the EU rose by 23% on the same comparison, to GBP 135.6 million (62% of total imports) - again, this increase is due to the exceptional items noted above.
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