According to the latest statistics provided by the Korean Machine Tool Manufacturers Association (KOMMA), in October 2011, new orders for Korean machine tools were 290.228 billion won, a decrease of 6.01% from 308.858 billion won for the previous month and 317.15 billion won for October 2010. It also fell by 8.47%, which is the first time that the South Korean machine tool industry orders have dropped compared to the same period last year in the past 22 months.
From January to October 2011, cumulative orders for Korean machine tools increased by 3.76 trillion won, an increase of 31.32% from 2.86 trillion won for the same period in 2010. In October, Korean machine tool orders fell for the first time in nearly 22 months YoY. Changes in Korean machine tool new orders from January 2010 to October 2011 According to KOMMA statistics, in September, Korean domestic orders were 147.9 billion won, a year-on-year increase of 3.2%. The growth drivers were mainly from the automotive industry and the expansion of investment in plants and equipment by enterprises; during the same period, the overseas machine tool orders amounted to 161 billion won, a significant year-on-year increase of 45.6%.
The import of machine tools continued to decline significantly, and the export chain continued to rebound in the import and export trade. In October, the value of imported machine tools in Korea was US$108 million, a decrease of 24.13% from the previous quarter and a year-on-year decrease of 17.62%; the export of machine tools was US$198 million, an increase of 3.04% from the previous month. The increase was 20.31%. From January to October, South Korea's cumulative value of imported machine tools was 1.502 billion U.S. dollars, an increase of 31.48% from 1.142 billion U.S. dollars in the same period of 2010; cumulative export machine tools were 1.8 billion U.S. dollars, an increase of 35.38% from 1.33 billion U.S. dollars in the same period of 2010. In October, the import value of Korean machine tools continued to drop significantly compared to the previous month, but the export value continued to rebound slightly from the previous month. From January to October 2011, the Korean machine tool trade achieved a trade surplus of 299 million U.S. dollars.
From January to October 2011, cumulative orders for Korean machine tools increased by 3.76 trillion won, an increase of 31.32% from 2.86 trillion won for the same period in 2010. In October, Korean machine tool orders fell for the first time in nearly 22 months YoY. Changes in Korean machine tool new orders from January 2010 to October 2011 According to KOMMA statistics, in September, Korean domestic orders were 147.9 billion won, a year-on-year increase of 3.2%. The growth drivers were mainly from the automotive industry and the expansion of investment in plants and equipment by enterprises; during the same period, the overseas machine tool orders amounted to 161 billion won, a significant year-on-year increase of 45.6%.
The import of machine tools continued to decline significantly, and the export chain continued to rebound in the import and export trade. In October, the value of imported machine tools in Korea was US$108 million, a decrease of 24.13% from the previous quarter and a year-on-year decrease of 17.62%; the export of machine tools was US$198 million, an increase of 3.04% from the previous month. The increase was 20.31%. From January to October, South Korea's cumulative value of imported machine tools was 1.502 billion U.S. dollars, an increase of 31.48% from 1.142 billion U.S. dollars in the same period of 2010; cumulative export machine tools were 1.8 billion U.S. dollars, an increase of 35.38% from 1.33 billion U.S. dollars in the same period of 2010. In October, the import value of Korean machine tools continued to drop significantly compared to the previous month, but the export value continued to rebound slightly from the previous month. From January to October 2011, the Korean machine tool trade achieved a trade surplus of 299 million U.S. dollars.
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