South Korean Machine Tool Order Continues to Rebound by the End of 2010

According to the latest statistics provided by the Korean Machine Tool Manufacturers Association (KOMMA), from January to November 2010, South Korea's total new machine tool orders reached 318.168 billion won, an increase of 88.98% from the 1.68567 billion won in the same period in 2009. Among them, in November 2010, South Korea's new machine tool orders were 324.426 billion won, a slight increase of 2.29% from the previous month's 317.15 billion won, an increase of 82.48% compared with November 177.792 billion won. In November, new orders for machine tools in South Korea continued to rebound, but there was still a gap from the previous high of nearly 400 billion won. As the global economic recovery rate drops, uncertainties increase, and downstream demand slows down, the Korean machine tool industry generally shows a trend of highs and lows in the whole year.

From January to November, South Korea's total production value of machine tools totaled 2,491.976 billion won, an increase of 62.29% from the 1.538732 trillion won for the same period in 2009. Among them, in November 2010, the output value of Korean machine tools was 260.151 billion won, an increase of 4.09% from 249.929 billion won of the previous month, and an increase of 31.5% from the 1978.28 billion won of November 2009.

In terms of import and export trade, from January to November, South Korea's cumulative value of imported machine tools was 1.278 billion U.S. dollars, an increase of 28.31% over the 996 million U.S. dollars of the same period of the previous year. Among them, in November 2010, South Korea imported machine tools for 136 million US dollars, an increase of 3.4% from the previous month's 132 million US dollars, and an increase of 12.85% over November 2009's 121 million US dollars. From January to November, South Korea's total exports of machine tools reached 1.479 billion U.S. dollars, an increase of 37.84% over the same period of the previous year of 1.073 billion U.S. dollars. Among them, in November 2010, South Korea exported 150 million U.S. dollars worth of machine tools, down 8.99% from the previous month's 164 million U.S. dollars, which was basically the same as last November.