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News Release from: Manufacturing Technologies Association
Edited by the Engineeringtalk Editorial
Team on 16 March 2006
UK machine tool exports grow
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
This article was originally published on Engineeringtalk on 1 Dec 2005 at 8.00am (UK)
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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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