Monday, February 17, 2014

[KMTI ➁] Korean Receipt of Machine Tool Orders in 2013

Korean Receipt of Machine Tool Orders Sluggish in 2013

The economic recovery is anticipated to continue, with domestic demand including consumption and investment improving and the export momentum being maintained.
Looking at the sectoral contributions to growth on the expenditure side, those of domestic demand (1.8%p) and of exports (2.0%p) will be generally similar.
Korean producers' receipt of machine tool orders (based on KOMMA member companies) from January through October 2013 amounted to about 3.16 trillion won, up 5.0% from 2012. If project-type orders are excluded, however, orders recorded a year-on-year decrease of 2.1%.
Declines in demand of equipment for development of new domestic cars and for facility investment by manufacturing businesses had significant impacts on domestic demand, while a portion of the project-type orders affected export demand.
In terms of demander business type, the ratios of automobile & parts and general machinery industries ranked No. 1 and No. 2 at 33.3% and 18.1%, respectively.
Nevertheless, demand from automotive businesses posted a slowdown for the second consecutive year since 2011, experiencing a year-on-year decline of 5.9% while its ratio also decreased 2.8 percentage points. In contrast, electrical, electronic and IT business demand expanded 51.7% year-on-year, posting a similar level as in 2011.

1 comment:

  1. Wow, great article, I really appreciate your thought process and having it explained properly, thank you!

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