Impact of the financial crisis on several major machine tool producing countries (regions) (summary)

The global financial crisis triggered by the US subprime mortgage crisis is spreading to the real economy. Since the second half of 2008, the machine tool industry in various countries and regions has been affected by the financial crisis to varying degrees, and the losses suffered by several major machine tool producing countries and regions are particularly serious. This paper analyzes and analyzes some statistics in the first half of 2009, which directly reflects the impact of the financial crisis on the global machine tool industry.
1 Japan: Statistics from the Japan Machine Tool Association (JMTBA) Japan's machine tool industry's orders in the first quarter of 2009 fell 84.6%, both domestic demand and exports fell. Affected its sales decreased by 46.2% year-on-year.
2 US: Machine tool orders continue to decline US machine tool orders began to decline in November 2008, and new orders in April 2009 were only $97.04 million, a 42% decrease from March 2009 and a 78% decrease from April 2008. Orders for the first four months of 2009 decreased by 71% year-on-year.
3 Germany: The decline in machine tool orders will end in the middle of the year?
VDMA has revised its annual machine tool order trend forecast from a previous 7% drop to a 10% to 20% drop. In the first quarter, total German machine tool orders fell by 70% year-on-year.
4 Taiwan, China: Taiwan's import and export of machine tools fell sharply in the first four months compared with the same period of the previous year. In the first four months of 2009, Taiwan's machine tool exports fell by 51.9%, and imports fell by 84.6%. From January to April 2009, the total export value of Taiwan's machine tools increased by 51.9% from the same period of the previous year, and exports decreased sharply.
In short, the impact of the financial crisis on the machine tool industry has not yet ended. When it comes to bottoming out, it is not easy to predict. What companies can do is to strive to open up the market and adjust the product structure to enhance the core competitiveness of the products.

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