Exports of Taiwan Machine Tool in 2023

Cumulative exports reached US$2.599 billion in 2023, doen 14% from 2022.

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$2.599 billion in 2022, a 14% decrease from 2022. Among them, metal cutting machine tool exports declining 13.3% to US$2.204 billion, while metal forming machine tool exports declined 17.7% to US$395 million. The machine tool export value in December 2023 declined by 0.1% compared with November 2023, with metal cutting machine tool exports growing by 1.9% and metal forming machine tool exports declined by 9.4%.

In 2023, the major export type of metal cutting machine tool was Machining Centers, with an export value of US$872 million, down 16.5% from 2022; Lathes ranked second, with an export value of US$652 million, down 4.9% from 2022. As to the exports of metal forming machine tool, Presses and shearing machines was about US$314 million, an decrease of 16.5% compared to 2022, 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 2023 are: China (including Hong Kong), the United States, Turkey, India, the Netherlands, Germany, Italy, Vietnam, Thailand and Japan. Among them, Taiwan's exports to China (including Hong Kong) amounted to nearly US$711 million, a decrease of 12% over 2022, accounting for 27.4% of the total exports; the United States market ranked second, with exports of nearly US$378 million, a significant decrease of 15.1% over 2022, accounting for 14.5% of the total exports; Turkey ranked third, with exports of 290 million, an  increase of 13.9% compared to 2022, accounting for 11.2% of the total exports. For detailed statistics, please refer to Table 2.