Taiwan Machine Tool Industry Shows Signs of Recovery Reports TAMI

The Taiwan Association of Machinery Industry (TAMI) released its latest report on November 11, highlighting Taiwan's machinery and equipment export performance. In October, export value reached $2.388 billion USD, reflecting a slight monthly decline of 1.3% but an annual increase of 2.1%. Cumulatively, exports for the first ten months of 2024 amounted to $24.21 billion USD, showing a marginal annual decline of 0.5%, with the rate of decrease continuing to narrow. TAMI Chairman David Chuang noted the industry's gradual upward trajectory, emphasizing efforts to maintain annual export levels on par with the previous year.

Chuang expressed optimism about the global economic outlook following the conclusion of the U.S. presidential election, citing reduced political uncertainty as a positive factor for increased corporate investment in capital goods, including machinery and equipment. October’s exports to the U.S. posted growth, and Chuang expects this trend to continue. However, exports to mainland China have seen persistent declines, posing challenges to overall growth in machinery exports.

A significant area of focus is machine tool exports, which reached $184 million USD in October. This represents a 13.3% month-on-month increase, although still down 9.1% year-on-year. The decline in machine tool exports is gradually easing, signaling a slow recovery. Taiwan's machine tool sector typically lags behind other machinery industries in rebounding, but upcoming international exhibitions like the International Manufacturing Technology Show (IMTS 2024) and the Japan International Machine Tool Fair (JIMTOF 2024) have sparked renewed market confidence, pointing to a promising recovery ahead.