Modest boost for UK machine tool exports
A
Manufacturing Technologies Association product story
Edited by the Engineeringtalk editorial team
Jan 29, 2004
UK exports of machine tools in the period from January to September 2003 were worth GBP 289.8 million, an increase of 2.9% compared with the same period in 2002.
UK exports of machine tools in the period from January to September 2003 were worth GBP 289.8 million, an increase of 2.9% compared with the same period in 2002, while imports into the UK were worth GBP 301.2 million, a decrease of 12.0% on the same basis.
This gives a trade deficit of GBP 11.4 million, significantly lower than the deficit of GBP 60.4 million in the same months of 2002.
Since the beginning of 2003, exports have increased in both of the successive quarters to reach GBP 107.6 million, the highest quarterly figure since the final period in 2001; at the same time, imports have decreased during the year to the point where there was a trade surplus in the 3rd quarter of the year.
In part this is due to a distortion of the import data in the early part of the year following the arrival of special machines for the automotive industry which constitute a "one-off trade".
Exports of CNC machine tools in the first nine months of 2003 were worth GBP 159.1 million (55% of total exports), an increase of 7.8% compared with the same months of 2002.
On the same basis, imports of CNC machine tools increased by 4.7% to GBP 171.2 million (57% of total imports).
Dispatches to the European Union (EU) between January and September 2003 were worth to GBP 123.9 million (43% of all exports), an increase of 2% on the same period in 2002; arrivals from the EU rose by 14% on the same comparison, to GBP 175.6 million (58% of total imports), as a result of the exceptional items noted above.
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