Exports of Taiwan Machine Tool in 2021

Release date : 02.10.2022

In the face of the normalization of the pandemic, due to several issues, such as material shortage, manpower shortage, port congestion, and soaring sea freight, , which used to be cost and efficiency oriented, the global supply chain structure has changed to a safe and stable regional supply chain, and the industry's long chain has become a short chain in response to the rapidly recovering market demand. This wave of supply chain shift and restructuring is driving the global economy and trade, and driving a new wave of demand for machine tools. Mizuho Bank of Japan predicts that the global machine tool market will grow by 17.5% in 2021 compared to 2020, and that capital outflows from industries in North America and Europe will continue to grow, resulting in a steady recovery of machine tool orders in the global market.

Cumulative exports reached US$2.783 billion in 2021, up 29.1% from 2020.

According to the data provided by Taiwan Customs Administration, Ministry of Finance, analyzed by Taiwan Machine Tool & Accessory Builders’ Association (TMBA), Taiwan machine tool exports reached total US$2.783 billion in 2021, a 29.1% increase from 2020. Among them, metal cutting machine tool exports grew 29.2% to US$2.304 billion, while metal forming machine tool exports grew 29% to US$0.479 billion. The machine tool export value in December 2021 declined by 7.8% compared with November 2021, with metal cutting machine tool exports declining by 11.5% and metal forming machine tool exports growing by 11.2%.

In 2021, the major export type of metal cutting machine tool was Machining Centers, with an export value of US$941 million, up 34% from 2020; Lathes ranked second, with an export value of US$590 million, up 32.4% from 2020. As to the exports of metal forming machine tool, Forging and stamping machines was about US$378 million, an increase of 28.6% compared to 2020, please refer to Table 1 for detailed statistics.


Major Export Markets for Machine Tool
Analyzed by export countries (regions), the top ten countries (regions) for Taiwan's machine tool exports in 2021 are: China (including Hong Kong), USA, Turkey, Russia, Vietnam, Thailand, India, the Netherlands, Italy, and Malaysia. Among them, Taiwan's exports to China (including Hong Kong) amounted to nearly US$911 million, an increase of 20.4% over 2020, accounting for 32.7% of the total exports; the U.S. market ranked second, with exports of nearly US$323 million, an increase of 18.3% over 2020, accounting for 11.6% of the total exports; Turkey ranked third, with exports of 241 million. Turkey ranked third, with exports of US$241 million, a significant increase of 46.2% compared to 2020, accounting for 8.7% of the total exports. For detailed statistics, please refer to Figures 1 to 2 and Table 2.