Japan's Machine Tool Industry Growing More Reliant On Asia
Post Date: 06 Apr 2011 Viewed: 483
Japanese machine tool manufacturers are growing more dependent on Asian demand, especially from China, according to preliminary 2010 data released Tuesday by the Japan Machine Tool Builders' Association.
Japan's machine tool exports surged 170% to 671.1 billion yen, making up 68.6% of all orders. Total shipments came to 978.6 billion yen, up 140%. In 2007, exports accounted for 54.3% of the total. Domestic demand also soared, rising 92.6% to 307.5 billion yen.
Asia accounted for 60.9% of the exports, up from 54.7% in 2009, the first time that its proportion has exceeded 60%. China alone represented 37.7%, up from 34.5%. Exports to China shot up 190% to 253 billion yen, beating 141.8 billion yen for North America and 106.1 billion yen for Europe.