The export of machinery products has a negative growth of 15.4% compared with the same period of last year, and the import has grown by 7.8% 1. Export of machinery and equipment In January 2020, Taiwan's machinery and equipment exports decreased, with an export value of US$2.05 billion, a negative growth of 15.4% over the same period last year. If denominated in NTD, the export value reached 61.5 billion yuan, a negative growth of 18% over the same period of the previous year. In 2020, Taiwan’s total exports are denominated in US dollars, a negative growth of 7.6% over the previous year, and Taiwan’s exports have grown negatively. In 2019, Taiwan's machinery exports reached 27.8 billion US dollars, a negative growth of 7.6% over the same period last year. Taiwan’s total export value in January 2020 was NT$752.4 billion, a negative growth of 10.0% over the same period of the previous year. Among them, electronic products grew by 0.1%, Infocom’s audio-visual products decreased by 5.3%, chemical products grew by 14.9%, and steel grew by 22.5%. The negative growth of Guangyi products was 14.1%, and the negative growth of motor products was 13.5%. The export of mechanical products has a negative growth rate of 18.7% in terms of NTD. The export performance needs to be worked hard. A detailed analysis of Taiwan's machinery exports in 2020 is denominated in New Taiwan Dollars, with exports of 52.6 billion yuan in January, a negative growth of 18.7%. 2. Main markets of Taiwan machinery export (1) Machinery exporting country Taiwan’s machinery products were exported to major markets in January 2020, and the mainland ranked first, with a negative growth of 25.6% over the same period last year. The United States ranked second, a decrease of 2.6% over the same period last year. Japan was the third, a decrease of 19.6% from the same period last year. Detailed analysis of machinery exports to mainland China in January was 520 million US dollars, a negative growth of 25.6%. Further analysis, January 2020 exports decreased by 374 million US dollars compared with the same period last year, exports decreased representative markets, the mainland accounted for 48% of the reduction, Japan accounted for 10%, Vietnam accounted for 9%, Thailand accounted for 5%. (2) Machine tool exporting countries In January 2020, the export value of Taiwan's machine tools reached 185 million US dollars, a negative growth of 35.1% over the same period of last year. The export of machine tools is facing more complicated international competition, and it is also facing a sharp depreciation of the yen of more than 30%, which will affect international Buyers place orders against Taiwan. In January, exports reached US$185 million, a negative growth of 35.1%. Taiwan's machine tool products were exported to the top 16 markets in January 2020. The mainland ranked first with an export value of US$36.12 million, accounting for 19.5% of all exports, a negative growth of 51.8% over the same period last year. The United States ranked second, with an export value of 24.8 million US dollars, accounting for 13.4% of exports, a negative growth of 37.7% over the same period last year. India is third, with an export value of US$12.72 million, accounting for 6.9% of exports, a negative growth of 39.8% from the same period last year. Yu followed by Turkey's negative growth of 135.8%, Russia's negative growth of 10.8%, Thailand's negative growth of 52.5%, Indonesia's negative growth of 109.4%, Japan's negative growth of 51.9%, Netherlands' negative growth of 51.9%, Malaysia's growth of 61.2%, Germany's negative growth of 52.3%, and Vietnam Negative growth was 62.2%, South Korea 17.0%, Italy negative growth 50.5%, UK negative growth 32.9%, Mexico negative growth 66.9%. In addition to the continued decline of the mainland, Europe, and the United States, some markets have shown signs of recovery. The top 16 export markets together account for about 78% of the total export of machine tools. Further analysis, the export of machine tools in January decreased by 100 million US dollars, and exports decreased in the representative market. The mainland accounted for 39%, the United States accounted for 15%, India accounted for 8%, Vietnam accounted for 7%, and Thailand accounted for 7%. (3) Other machinery export situation In January 2020, the export value of semiconductor electronic machinery and other equipment was 343 million US dollars, an increase of 2.6%. The export of special function machinery was US$104 million, a negative growth of 5.6%. Plastic machinery exports reached US$82.74 million, a negative growth of 2.3%. The export value of textile machinery was US$59 million, a negative growth of 19.4%. The export value of papermaking and printing machinery was US$50.2 million, with a negative growth of 28.5%. The export value of tooling and die was US$47.54 million, a negative growth of 4.4%. The controller export value was US$31.16 million, a negative growth of 17.2%. The export value of testing equipment was 217 million US dollars, a negative growth of 8.1%. 3. Import of machinery In January 2020, Taiwan's machinery and equipment imports grew, with an import value of US$2.72 billion, an increase of 7.8% over the same period last year. If denominated in NTD, the import value is 81.7 billion yuan, up 5.0%. Detailed analysis shows that in January 2020, machinery imports were 81.7 billion yuan, up 5.0%. (1) Main sources of Taiwan machinery imports Taiwan Machinery’s main source of imports in January 2020, the United States ranked first, with an import value of 676 million US dollars, accounting for 24.8% of all imports, an increase of 33.5% over the same period last year. The second is Japan, with an import value of US$618 million, accounting for 22.7% of all imports, a decrease of 9.6% from the same period last year. The third is Mainland China, with an import value of US$334 million, accounting for 12.3% of all imports, a decrease of 16.4% from the same period last year. The fourth is Singapore, with an import value of US$320 million, accounting for 11.8% of all imports, an increase of 122.8% from the same period last year. Singapore ranks No. 4 in imports. Since the Taiwan-New FTA is duty-free, whether it is re-exported to Taiwan in large quantities deserves attention. (2) Source of machine tool imports In January 2020, the import value of Taiwan's machine tools reached US$44.73 million, a negative growth of 38.8% over the same period last year. Japan ranked first, with an import value of US$15.95 million, accounting for 35.7% of all imports, a negative growth of 49.9% from the same period last year. The mainland ranks second, with an import value of 8.01 million US dollars, accounting for 17.9% of imports, a negative growth of 22.2% over the same period last year. Germany ranked third, with an import value of US$5.3 million, accounting for 11.9% of imports, a negative growth of 51.2% over the same period last year. (3) Source of semiconductor equipment import In January 2020, Taiwan's semiconductor equipment import value reached US$2.08 billion, an increase of 25.2% over the previous year, and accounted for 77% of all machinery imports. First, in the United States, the import value is 566 million US dollars, accounting for 27.2% of imports, an increase of 35.3% over the previous year. Japan is the second-largest, with an import value of 478 million US dollars, accounting for 23.0% of all imports, an increase of 22.0% over the previous year. Singapore is third, with an import value of US$334 million, accounting for 16.1%, an increase of 90.0% over the previous year. The Netherlands is fourth, with an import value of US$284 million, accounting for 13.7% of imports. Germany is fifth, with an import value of US$61 million, accounting for 2.9%. The import value of the mainland is US$56 million, accounting for 2.7%, and South Korea is US$40 million, accounting for 1.9%. 4. Economic growth rates of major Taiwanese machinery exporting countries in 2018 and 2019 (1) The economic growth rate in 2018 IMF's global economic growth rate in 2018 was 3.1%. Among them, Taiwan's economic growth rate was 2.6%. The economic growth rate of mainland China is 6.6%, the economic growth of the United States is 2.9%, Japan 0.8%, Germany 1.5%, South Korea 2.7%, Singapore 3.1%, India 7.3%, France 1.7%. (2) The estimated economic growth rate in 2019 In 2019, the IMF revised down global growth by 3.0%, of which Taiwan grew by 2.6%, Taiwan’s major machinery export market grew by 6.1% in the mainland, the US by 2.3%, Japan by 1.1%, the euro zone growth rate by 1.6%, Germany by 0.5%, and Korea by 2.0%, Singapore 0.7%, India grew 7.5%, and France grew 1.3%. 5. Important factors affecting Taiwan's machinery exports The exchange rate of the New Taiwan Dollar to the US Dollar The average US dollar exchange rate in January 2020 is 30 NT$/US$, which is an appreciation of 2.73% from the same period of the previous year. The current Taiwan Dollar to the US dollar is rising by about 30 NT$/US$. The Korean Won is still in a state of super depreciation. Since the global financial tsunami, the Korean Won has depreciated by 33% compared with 2007, and the New Taiwan dollar has appreciated against the US dollar in 2019. The relative gap between the two sides is more than 30%, resulting in The competitiveness of Taiwanese products in the international market has gradually declined. At present, the biggest problem faced by Taiwan's machinery products in the global economic and trade market is that for the first time in Japan, high-end machinery has benefited from the sharp depreciation of the yen against the US dollar, and it has lowered the price of the US dollar in the international market. The second is Korean machinery products with the highest homogeneity. Due to the blessing of FTA, the marketing and suppression of Taiwan machinery products in major markets. In addition, the prices of mainland machinery products in the international market have a gap compared with Taiwan products. Taiwan's machinery is being hit on three sides in the international market. The Japanese yen has returned to the Taiwan dollar in the current exchange rate in 2002. The New Taiwan dollar can be exchanged for 3.63 Japanese yen, a significant depreciation of about 35%. The euro has also returned to the exchange rate against the US dollar in 2003, and it is currently depreciated by 20%. Competition against the Japanese currency also depreciates against the US dollar. In January 2020, Taiwan’s total export value increased negatively by 7.6% compared with the same period of the previous year and negatively increased by 10.0% in terms of NTD, indicating that Taiwan’s global export competitiveness has declined. Taiwan, Japan, Europe, and South Korea's mechanical products are highly competitive. From 2011 to 2012, when the strongest yen was, the new Taiwan dollar was exchanged for 2.70 yen. When the weakest yen in 2015, the new Taiwan dollar was exchanged for 3.79 yen and the current exchange of yen is 3.65 yen. It depreciated by 30%. In 2014, when the euro was the strongest, it could be exchanged for 42NT$, and in 2015, it could be exchanged for 34NT$. At present, the euro has depreciated by 25%. In 2007, the Korean Won was stronger and the new Taiwan dollar could be exchanged for 28.3₩, in 2015 it was changed to 35.3₩, and it is currently exchanged for Korean Won 39.5₩, down 35%. New Taiwan dollar against the US dollar should still be moderately adjusted to 32-33 yuan / US dollar. In the current U.S.-China trade war and the volatile and unstable global economic and trade situation, the development direction of new machinery products such as automation, customization, and intelligence has become a necessary condition. In addition, manufacturers must have a rapid response to urgent orders and short orders. Ability to deliver. The government's economic and trade supervisors should speed up the implementation of economic and trade liberalization policies and the rapid adaptability of the currency to the US dollar, with a view to assisting Taiwan's machinery goods to compete with Japanese and Korean machinery goods under fair conditions. Reference: tami.org.tw
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