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According to KOMMA, in August, South Korea’s domestic orders were 170.6 billion won, up 8.4% year-on-year. The growth drivers were mainly from the automotive industry and the company’s expansion of investment in plants and equipment. However, overseas machine tool orders fell by 4.3% year-on-year to 110.8 billion won.
In the first three quarters, the output value of Korean machine tools increased by 30.26%.
In September 2011, the output value of Korean machine tools was 282.131 billion won, an increase of 2.62% from the previous month's 275.115 billion won, and an increase of 14.01% from the 247.613 billion won in September 2010. In the first three quarters, Korea’s total production of machine tools totaled 2.59 trillion won, an increase of 30.26% over the same period of 1999 of 1.99 trillion won.
According to statistics, in August, the output value of CNC cutting machine in Korea was 237.3 billion won, down 1.9% from the previous month; the output value of non-CNC lathe was 7.8 billion won, down 9.6% from the previous month; the output value of forming machine tool was 30.1 billion won, down 6.7% from the previous month.
Imports of Korean machine tools continued to decline in September 2011, and exports rebounded from the previous month.
In terms of import and export trade, in September, South Korea imported machine tools worth 143 million US dollars, down 19.66% from the previous month, but up 15.39% year-on-year; exporting machine tools was 192 million US dollars, up 10.78% from the previous month and up 36.73% from the same period last year. In the first three quarters, Korea imported machine tools worth 1.394 billion US dollars, up 37.87% from the 1.011 billion US dollars in the same period of 2010; cumulative machine tools exported 1.603 billion US dollars, an increase of 37.51% over the same period of 2010, 1.165 billion US dollars. In September, the import value of Korean machine tools continued to decline, but the export volume rebounded. In the first three quarters of 2011, South Korea's machine tool trade achieved a trade surplus of US$209 million.
In the first three quarters, the indicators of the Korean machine tool industry generally maintained growth.
According to the latest statistics provided by the Korea Machine Tool Manufacturers Association (KOMMA), in September 2011, the number of new orders for Korean machine tools was 308.858 billion won, an increase of 9.76% from the previous month's 281.385 billion won, after a five-month decline. There was a rebound, and the order volume increased by 21.68% compared with the 253.83 billion won in September 2010. In the first three quarters, the cumulative new orders for Korean machine tools totaled 3.47 trillion won, an increase of 36.28% from 2.54 trillion won in the same period in 2010.