According to the latest statistics provided by the National Machine Tool Builders Association (KOMMA), in April 2011, new orders for machine tools in Korea were 468.492 billion won, a decrease of 10.84% ​​from 525.5 billion won last month, but 362.256 billion over the same period of last year. The won increased by 29.33%. From January to April, Korean machine tools accumulated new orders of 1.75538 trillion yen, an increase of 60.32% year-on-year.
With the further recovery of the domestic demand industry such as autos and parts, motors and electronics, and general machinery, as well as the continued growth of markets in various countries in the world, orders for Korean machine tools have increased significantly, indicating strong market demand. Among them, domestic orders from South Korea were 291.4 billion won in March, an increase of 53.3% from the previous period, and export orders were 234.1 billion won, a year-on-year increase of 16.4%.
In April 2011, the output value of machine tools in Korea was 348.627 billion won, an increase of 17.9% from 299.7 billion won last month, which was the highest point in the year. At the same time, the output value of Korean machine tools also increased by 72.32% compared with 20.213 billion won in April 2010. From January to April, South Korea's cumulative production of machine tools totaled 1,130.29 billion won, an increase of 41.9% from the same period in 2010.
In terms of import and export trade, in April 2011, the value of imported machine tools in Korea was US$145 million, a decrease of 4.37% from the previous quarter and an increase of 33.99% year-on-year; export machine tools were US$183 million, an increase of 4.11% from the previous quarter and also a year-on-year increase of 43.3%. From January to April, South Korea's total value of imported machine tools was 568 million U.S. dollars, an increase of 35.3 percent from the 420 million U.S. dollars in the same period of 2010; cumulative export machine tools were 668 million U.S. dollars, an increase of 60.23 percent from 417 million U.S. dollars in the same period of 2010. With the import and export of machine tools maintaining levels of more than US$100 million for a single month for 11 months and 14 months respectively, from January to April 2011, the Korean machine tool trade realized a trade surplus of US$100 million.
China is the largest market for Korean machine tools exports. In the first quarter, South Korea's export of machine tools to China was valued at 183 million U.S. dollars, a year-on-year increase of 51.1%, accounting for 37.7% of its total exports, and 2.3% lower than the 43% in 2010. The United States is South Korea's second largest export market. It exported US$58 million to the United States, a significant year-on-year increase of 185.5%, with a share of 12%. Germany ranks third, with exports amounting to US$47 million, a dramatic increase of 574.1% year-on-year, with a share of 9.7%.
With the further recovery of the domestic demand industry such as autos and parts, motors and electronics, and general machinery, as well as the continued growth of markets in various countries in the world, orders for Korean machine tools have increased significantly, indicating strong market demand. Among them, domestic orders from South Korea were 291.4 billion won in March, an increase of 53.3% from the previous period, and export orders were 234.1 billion won, a year-on-year increase of 16.4%.
In April 2011, the output value of machine tools in Korea was 348.627 billion won, an increase of 17.9% from 299.7 billion won last month, which was the highest point in the year. At the same time, the output value of Korean machine tools also increased by 72.32% compared with 20.213 billion won in April 2010. From January to April, South Korea's cumulative production of machine tools totaled 1,130.29 billion won, an increase of 41.9% from the same period in 2010.
In terms of import and export trade, in April 2011, the value of imported machine tools in Korea was US$145 million, a decrease of 4.37% from the previous quarter and an increase of 33.99% year-on-year; export machine tools were US$183 million, an increase of 4.11% from the previous quarter and also a year-on-year increase of 43.3%. From January to April, South Korea's total value of imported machine tools was 568 million U.S. dollars, an increase of 35.3 percent from the 420 million U.S. dollars in the same period of 2010; cumulative export machine tools were 668 million U.S. dollars, an increase of 60.23 percent from 417 million U.S. dollars in the same period of 2010. With the import and export of machine tools maintaining levels of more than US$100 million for a single month for 11 months and 14 months respectively, from January to April 2011, the Korean machine tool trade realized a trade surplus of US$100 million.
China is the largest market for Korean machine tools exports. In the first quarter, South Korea's export of machine tools to China was valued at 183 million U.S. dollars, a year-on-year increase of 51.1%, accounting for 37.7% of its total exports, and 2.3% lower than the 43% in 2010. The United States is South Korea's second largest export market. It exported US$58 million to the United States, a significant year-on-year increase of 185.5%, with a share of 12%. Germany ranks third, with exports amounting to US$47 million, a dramatic increase of 574.1% year-on-year, with a share of 9.7%.
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