UK machine tool exports rise in 2004
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Manufacturing Technologies Association product story
Edited by the Engineeringtalk editorial team
Jul 6, 2004
UK exports of machine tools in the 1st quarter of 2004 were worth GBP 102.3 million; this is 19.4% higher than in the 1st quarter of 2003, but is down by 8.1% compared with the last quarter of 2003.
UK exports of machine tools in the 1st quarter of 2004 were worth GBP 102.3 million; this is 19.4% higher than in the 1st quarter of 2003, but is down by 8.1% compared with the last quarter of 2003.
On the same comparison, UK imports of machine tools fell by 25.4% compared to a year earlier to GBP 86.3 million; this is a reduction of 1.7% compared with the 4th period of 2003.
The trend for UK imports is affected by the arrival last year of a large one-off item for the automotive industry, worth in the region of GBP 25 million in the first three months of 2003; the quarter-on-quarter trend reflects more accurately the current underlying trend for imports in to the UK.
Dispatches to the European Union (EU) in the 1st quarter were worth GBP 43.2 million, or 42% of all exports, an increase of 20% on a year ago; arrivals from the EU fell by 44% on the same comparison, to GBP 42.2 million (49% of total imports), but this trend was affected by the exceptional items in the 1st quarter of 2003 reported above.
In the first quarter of 2004, the top four export markets were the USA, Germany, Belgium and China; the leading sources of imports were Germany, the USA, Japan and Italy.
In terms of products, there was a significant trade surplus for machining centres (+GBP 14.4 million) and CNC grinding machines (+GBP 5.5 million); the most significant deficit was in CNC lathes (-GBP 4.9 million).
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