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News from the Import Industry

February 25, 2010

Taiwan Machinery Industry Predicted to See 23% Growth in 2010

Taipei, Feb. 24, 2010 (CENS)--Thanks to the economic recovery, Taiwan Association of Machinery Industry (TAMI) recently predicted the overall production value for Taiwan`s machinery industry will reach NT$800 billion (US$25 billion) in 2010, for a 23% annual growth.

Of this, the machine-tool sector will see production value amount to NT$110 billion (US$3.43 billion), up 37% year-on-year.

Based on customs figure, Taiwan`s machinery industry exported NT$37 billion (US$1.15 billion) of products in December 2009, up 5% year-on-year, showing a recovery to approximately 90% of the pre-meltdown monthly average of about NT$42 billion (US$1.31 billion).

The overall production value for Taiwan`s machinery industry amounted to NT$910 billion (US$28.43 billion) in 2008, of which the production value for the machine-tool sector reached NT$150 billion (US$4.68 billion).

TAMI president C.C. Wang noted the growth in exports and imports showed domestic machinery industry has weathered the downturn, adding that most domestic machine-tool firms have seen production equipment utilization rate exceed 60% and that for the machinery components manufacturers reach a higher 80%.

(by Ben Shen)

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