January 2017 Taiwan Machinery Products Import and Export Newsletter

Abstract According to the research department of the cutting technology network industry, Wang Zhengqing, secretary general of the Taiwan Machinery Industry Association, introduced the quick report data of Taiwan's machinery products import and export in January 2017. 1. Mechanical Exporter Wang Zhengqing, Secretary General, said that in January 2017 Taiwanese machinery set...
According to the research department of the cutting technology network industry, Wang Zhengqing, secretary general of the Taiwan Machinery Industry Association, introduced the quick report data of Taiwan's machinery products import and export in January 2017.

Mechanical exit
Secretary Wang Zhengqing said that in January 2017, Taiwan’s machinery and equipment exports increased, and the export value reached 1.864 billion US dollars, an increase of 7.9% over the same period of the previous year. If calculated in New Taiwan dollars, the export value will reach 59.5 billion yuan, an increase of 3.9% over the same period of the previous year. In January, Taiwan’s total exports were denominated in US dollars, an increase of 7.0% over the previous year. Taiwan’s export prospects are expected to be expected.
In 2016, Taiwan's machinery exports reached US$21.1 billion, a decrease of 1.7% from the same period last year. Taiwan's total export value in January 2017 was NT$757.1 billion, up 3.0% from the same period of the previous year, of which electronic products increased by 6.0%, Zitong audio-visual products decreased by 1.2%, chemical products increased by 10.4%, steel increased by 14.3%, and textiles decreased. 10.4%, motor products decreased by 3.7%. Exports of machinery products increased by 3.9% in New Taiwan dollars, and export performance needs to be strengthened.

2. Taiwan Machinery Export Market 2.1 Machinery Export Destination
Secretary-General Wang Zhengqing said that Taiwan's machinery products were exported to destinations in January 2017. The mainland's first export value was 4.5257 billion US dollars, accounting for 24.3% of all exports, an increase of 25.6% over the same period of the previous year. The United States ranked second, with an export value of 328.08 million US dollars, accounting for 17.6% of exports, a decrease of 12.9% from the same period of the previous year. Japan’s third, export value of 133.89 billion US dollars, accounting for 7.1% of exports, a decrease of 8.0% over the same period last year.
2.2 Machine tool export destination
In January 2017, Taiwan's machine tool export value reached 234.42 million US dollars, an increase of 12.9% over the same period of last year. Machine tool exports are facing more complicated international competition, and the yen is facing a sharp depreciation of more than 50%, which will affect international buyers. Taiwan is single.
Taiwan's machine tool products exported to the top 16 markets in January 2017, ranking first in the mainland, with an export value of US$64.49 million, accounting for 26.5% of all exports, an increase of 3.9% over the same period of the previous year. The United States ranked second, with an export value of US$ 28.08 million, accounting for 11.5% of exports, a decrease of 1.6% from the same period last year. Turkey’s third, export value of 11.54 million US dollars, accounting for 4.7% of exports, a decrease of 14.5% over the same period last year.
The rest is Germany with 2.2% growth, South Korea with 88.4%, Thailand with 4.1%, India with 38.5%, Netherlands with 11.2%, Japan with 7.4%, Italy with 56.3%, Mexico with 110.5%, and Russia with 68.7% for Malaysia. 326%, Indonesia increased by 95.4%, Vietnam decreased by 48.8%, and the United Kingdom decreased by 48.5%. The top 16 export markets accounted for about 78% of total machine tool exports.

3. Machinery import
Secretary-General Wang Zhengqing said that in January 2017, Taiwan’s machinery and equipment imports increased, and the import value reached 2.342 billion US dollars, an increase of 10.5% over the same period of the previous year. If calculated in New Taiwan dollars, the import value is 74.7 billion yuan, an increase of 6.4%.

4. The main source of Taiwan's machinery imports
Secretary-General Wang Zhengqing said that Taiwan Machinery imported the main source in January 2017, ranking first in the United States, with an import value of 7.8357 billion US dollars, accounting for 33.5% of all imports, an increase of 58.0% over the same period of the previous year. The second is Japan, with an import value of US$632.5 million, accounting for 27.0% of all imports, an increase of 12.3% over the same period last year. The third is Singapore, with an import value of US$ 251.67 million, accounting for 10.7% of all imports, an increase of 156.8% over the same period of the previous year.

5. The main destination growth rate of Taiwan's machinery exports in 2017 5.1 Economic growth rate in 2016
Secretary-General Wang Zhengqing said that in 2016, global growth was 3.1%, of which Taiwan increased by 1.2%. Taiwan's machinery export market grew by 6.6% in the mainland, 1.4% in the US, 0.6% in Japan, 1.6% in the Eurozone, 2.6% in South Korea and 1.9% in Singapore.
5.2 2017 economic growth rate
Secretary-General Wang Zhengqing introduced the economic growth rate estimated by the IMF in 2017. The IMF estimates that the global economic growth rate in 2017 will be 3.4%. Among them, Taiwan's economic growth rate is estimated at 1.8%, China's economic growth rate is estimated at 6.5%, US economic growth is estimated at 2.3%, Japan's economic growth is estimated at 0.8%, Eurozone economic growth rate is 1.6%, South Korea's 2.7%, Singapore 1.9 %.

6. Important factors affecting Taiwan's machinery exports
Secretary General Wang Zhengqing analyzed the important factors affecting Taiwan's machinery exports. He said that the exchange rate of the New Taiwan dollar against the US dollar averaged US$1.31 in January 2017, which was NT$31.92, which was 3.76% higher than the same period of the previous year. It is currently appreciating the value of NT$31.02 to US$1. The Korean won is still in a state of over-depreciation. Since the global financial tsunami, the Korean won has depreciated by 24.5% against the US dollar in 2007, while the New Taiwan dollar has depreciated by 1.3% against the US dollar. The relative gap between the two sides is around 20%, leading to Taiwanese products. Competitiveness has gradually declined in the international market.
The mainland imported machinery and equipment from Taiwan for ECFA early tax reduction and exemption rate. In 2013, the two sides will accelerate the promotion of the goods trade agreement to reduce import tariffs, but failed to complete the consultation before the end of 2015. The European and Korean FTA was officially implemented on July 1, 2011, and the US-South Korea FTA was implemented on March 15, 2012. In addition, the China-Korea FTA has completed legislation at the end of 2015, and Korea’s economic and trade liberalization has already led Taiwan significantly.
At present, the biggest problem facing Taiwanese machinery goods in the global economic and trade market, the first high-end machinery in Japan benefited from the sharp depreciation of the yen against the US dollar, and has already lowered the price of the US dollar in the international market. The second is the most homogenous Korean machinery goods. Due to the FTA's blessing, Taiwan's mechanical products are suppressed in major markets. In addition, mainland machinery goods are selling at a price worse than Taiwan products in the international market. Taiwanese machinery is being attacked on three sides in the international market.
The yen has returned to the NT currency in 2002. The exchange rate for the current year was NT$3.63, which was a sharp depreciation of about 35%. The euro also returned to the US dollar in 2003. It is also depreciated by 20%. The competition of the yuan also depreciated against the dollar. In January 2017, Taiwan’s total export value increased by 7.0% from the same period of the previous year, indicating that Taiwan’s global export competitiveness has stabilized.
The competition between Taiwan and Europe and South Korea is fierce. In 2011, when the yen was strongest in 2012, NT$2.70 was changed. When the yen was weakest in 2015, 1 Taiwan dollar was changed to 3.79 yen, and the current exchange rate was 3.61 yen. The depreciation is 36%. In 2014, when the euro is strongest, 1 euro can be exchanged for 42 Taiwan dollars. In 2015, it can be exchanged for 34 Taiwan dollars. Currently, 1 euro to 33.1 Taiwan dollars, depreciating 20%. In 2007, when the won was strong, 1 Taiwan dollar could be exchanged for 28.3 won, and in 2015, it would be 35.3 won, and currently it will be 36.9 won, è´¬ 30%. The new Taiwan dollar should still be moderately adjusted to US$1 for 33-34 NT dollars.
In the current global economic and trade volatility and instability, the direction of mechanical new product development, such as automation, customization, and intelligence, has become a necessary condition. In addition, manufacturers must have the ability to respond quickly and quickly with orders and short orders. . The government's economic and trade executives should speed up the implementation of the economic and trade liberalization policy and the ability of the currency to respond quickly to the US dollar, with a view to assisting Taiwan's machinery goods and competing with Japanese and Korean machinery goods under fair conditions.

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