UK machine tool exports grow
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Manufacturing Technologies Association product story
Edited by the Engineeringtalk editorial team
Mar 16, 2006
Trade association says exports of metal working machine tools from the UK were worth £438 million, up 9.0% on 2004, while imports increased 6.1% to £404 million.
Exports of metal working machine tools from the UK were worth £438 million, up 9.0% on 2004, while imports increased 6.1% to £404 million, giving a trade surplus for 2005 of £34 million, the highest since 1982, according to the Manufacturing Technologies Association.
The run of three consecutive trade surpluses from 2003 to 2005 is the longest since the 1980-83 period.
The growth in exports was generated by trade with the European Union, with deliveries to the EU25 growing 21.2% compared with 2004; growth for the EU15 countries was even more rapid at 24.0%.
Although exports to the rest of the world were 1.8% lower than in 2005, there were still some countries with significant growth, led by China up 43.6% and India up 54.1%.
In contrast, import growth was generated from outside of Europe, with arrivals from the European Union slightly lower than in 2004, down 1.6% for the EU15 and 1.0% for the EU25 countries.
Outside Europe, increases in imports were led by Japan (+26.6%) and Taiwan (+53.0%).
Analysis by product type shows that the main contributions to the trade surplus came from CNC Grinding Machines (+£30.1 million) and Machining Centres (+£20.2 million).
The most significant trade deficits were for CNC Lathes (-£21.2 million) and Sawing Machines (-£20.1 million).
Metal cutting machines accounted for 79% and metal forming machines for 21% of exports and imports.
UK exports of machine tools in the fourth quarter of 2005 were worth £125.0 million, a rise of 17.1% compared with the third quarter and 20.3% higher than in the fourth period of 2004.
On the same basis, UK imports were worth £103.5 million, 7.7% up on the previous quarter, but 3.7% down on the same period a year ago.
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