According to estimates, in 2008, the total value of machine tools in Taiwan will reach 5.3 billion US dollars, ranking fifth in the world. South Korea ranks sixth with a total output value of $4.9 billion.
Due to the strong demand in the Asian market and the strong role of the Euro, AMT forecasts that in 2008, the world's total machine tool output will reach 79.2 billion US dollars, an increase of 14%. Compared with 2007, the growth rates of major machine tool producing countries (regions) are: 24% in Germany, 20% in Brazil, 17% in China, Italy, and Taiwan, 7.7% in Korea, and 4% in Japan.
According to the prediction of the Taiwan Machinery Industry Association, the total export value of machine tools in Taiwan will reach US$4.1 billion in 2008, ranking behind Germany, Japan and Italy.
Source: China Metal Processing Online
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