[KMTI ⑮] Korea's Machine Tool Imports Forcast

Imports Sees Double Digit Growth in 2014

Korea's machine tool imports in 2014 are expected to grow 12.3% year-on-year to US$1.6 billion, realizing the first conversion to growth in three years.

The double-digit growth is attributable to growth in domestic facility investment, continuation of weakened yen currency, expanded development of low-priced machine tools by manufacturers in advanced countries, and expansion of FTA import items. In contrast, continuation of low growth in the domestic economy, expanded competition with domestic machine tool manufacturers, etc. are likely to serve as factors that limit imports.