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News Release from: Manufacturing Technologies Association
Edited by the Engineeringtalk Editorial
Team on 13 June 2005
UK machine tool exports go down
UK exports of machine tools in the 1st quarter of 2005 were worth GBP 92.6 million, a reduction of -10.9% compared with the 4th quarter of 2004 and -9.5% lower than in the 1st period of 2004.
UK exports of machine tools in the 1st quarter of 2005 were worth GBP 92.6 million, a reduction of -10.9% compared with the 4th quarter of 2004 and -9.5% lower than in the 1st period of 2004 On the same basis, UK imports were worth GBP 95.9 million, -10.8% down compared with the previous quarter, but +11.1% up on the same period a year ago
This article was originally published on Engineeringtalk on 1 Dec 2005 at 8.00am (UK)
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Compared with the 1st quarter of 2004, exports to the European Union increased, with trade with the original 15 countries increasing more rapidly than with the ten new countries who joined during 2004.
For the rest of the world, UK exports of machine tools fell, led by the USA which ceased to be the largest single country market for the first time since 1992.
UK exports to China also fell, but some care is needed with all the trends which are based on only one quarter of the year.
For imports, trade with the EU was broadly unchanged from the level seen a year ago, although this was a balance of some increases and some reductions.
The way in which the data is collected for intra-EU trade means that it is the country of dispatch rather than the country of origin which determines the trading partner.
Most of the increase in imports came from the rest of the world, but mainly from Asia rather than North America or Switzerland which saw a lower level of imports.
Although there was a trade deficit overall in the 1st quarter of 2005 of -GBP 3.3 million, the UK registered a surplus on trade with the European Union; this was worth +GBP 7.9 million for the EU15 countries and +GBP 9.6 million for the larger EU25 area.
Analysis of the data by product type shows a strong surplus in machining centres (+GBP 8.4 million), whereas the largest trade deficits was for CNC lathes (-GBP 6.0 million).
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