By: Taiwan Today,Agencies
Taiwan machinery exports hit a record high of US$25.6 billion in 2017 on the back of surging global demand. (Taiwan Today Staff photo/Chin Hung-hao)
Taiwan’s machinery exports climbed 21.1 percent year on year to an all-time high of US$25.6 billion in 2017, according to the latest statistics by the Ministry of Finance and Taiwan Machine Tool and Accessory Builders Association (TMBA).
Metal machine tools, which comprise 13 percent of total shipments, increased 15.6 percent to US$3.35 billion—the sixth best result globally. The top destination was mainland China at 35 percent, followed by the U.S., 11.1 percent; and Turkey, 4.3 percent.
Semiconductor equipment surged 59.1 percent to US$3.72 billion, while ball and roller bearing housings gained 31.7 percent to US$1.73 billion. The record results position Taiwan ninth and 13th worldwide, respectively.
Taiwan ranks 19th in the world for machinery exports, with the top three comprising Germany, mainland China and the U.S. in that order.