UK machine tool surplus grows in 2004
A
Manufacturing Technologies Association product story
Edited by the Engineeringtalk editorial team
Apr 4, 2005
The UK recorded a trade surplus of GBP 21.1 million in 2004, an improvement on the surplus of GBP 12.2 million registered in 2003.
The UK recorded a trade surplus of GBP 21.1 million in 2004, an improvement on the surplus of GBP 12.2 million registered in 2003.
Exports of machine tools from the UK in 2004 were fractionally up on the 2003 level at GBP 401.9 million (the 2003 figure was GBP 401.1 million), with the improved surplus coming about as a result of a fall of -2.1% in imports to GBP 380.8 million.
UK exports of machine tools in the 4th quarter of 2004 were worth GBP 103.9 million; this is +14.2% higher than in the 3rd quarter of 2004, but is -6.6% lower than in the 4th quarter of 2003.
On the same basis, UK imports of machine tools increased by +10.1% compared to the 3rd quarter of 2004, to GBP 107.5 million; this is +22.4% up on the 4th quarter of 2003.
Breaking down the trade figures by product type reveals a strong surplus in three categories - machining centres (+GBP 40.1 million), "other" metal forming machines (+GBP 14.9 million) and CNC grinding machines (+GBP 14.2 million).
These were balanced in part by significant deficits for CNC lathes (-GBP 20.5 million), sawing machines (-GBP 13.5 million) and CNC boring machines (-GBP 10.2 million).
A small trade surplus was recorded with the European Union, this figure takes into account trade with the 10 new member countries admitted in May 2004.
Among the other key trading partners there were mixed results with surpluses being recorded against the USA, China and India, but trade deficits with Japan, Taiwan, South Korea and Switzerland.
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