Korean machine tool production in 2013 is estimated to have declined 9.6% year-on-year, recording 5.81 trillion won, due to the continuation of uncertainties in internal and external economic environments. Affected by a slowdown in domestic facility investment and export decline to major overseas markets, Korean machine tool production suffered a reduction for the first time in four years since the 2009 U.S. financial crisis triggered by the collapse of Lehman Brothers.
Based on KOMMA member company data, machine tool production from January to October 2013 decreased 12.8% year-on-year to about 2.62 trillion won and shipments also decreased 12.8% year-on-year.
In particular, production of three key items - NC lathes (-6.9%), machining centers (-6.6%) and presses (-15.9%) - in the first 10 months of 2013 posted a year-on-year decline of 8.0%.
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