South Korea's CNC Cutting Machine Market Maintains Steady Growth

December 30, 2018

According to recent statistics from the Korea Numerically Controlled Machine Tool Association (KOMMA), in September 2011, new orders for Korean CNC cutting machines were 308.858 billion won, an increase of 9.76% from 281.385 billion won for the previous month, after falling for 5 consecutive months. There was a pick-up, and the order amount increased by 21.68% from the 253.83 billion won in September 2010. In the first three quarters, cumulative orders for Korean CNC cutting machines totaled 3.47 trillion won, an increase of 36.28% from 2.54 trillion won for the same period in 2010.

According to KOMMA statistics, in August, South Korea’s domestic orders were 170.7 billion won, an increase of 8.4% year-on-year. The growth drivers were mainly from the automotive industry and the expansion of investment in factories and equipment; however, the orders for overseas CNC cutting machines decreased by 4.3% year-on-year. To 110.8 billion won.

In the first three quarters, the output value of Korean CNC cutting machines increased by 30.26% year-on-year

In September 2011, the output value of Korean CNC cutting machines was 282.313 billion won, an increase of 2.62% from 275.115 billion won for the previous month, and an increase of 14.01% as compared with 247.613 billion won in September 2010. In the first three quarters, South Korea's cumulative production of numerical control cutters totaled 2.59 trillion won, an increase of 30.26% from 1.99 trillion won for the same period in 2010.

According to statistics, in August, the output value of CNC CNC cutting machine in Korea was 237.3 billion won, a decrease of 1.9% from the previous period; the output value of non-CNC lathes was 7.8 billion won, a 9.6% decrease from the previous month; the output value of forming CNC cutting machines was 30.10 billion won. Declined by 6.7%.

In September 2011, the import of Korean CNC cutting machines continued to decline, and the export chain rebounded. In terms of import and export trade, in September, South Korea imported CNC cutter worth US$143 million, a month-on-month decrease of 19.66%, but a year-on-year increase of 15.39%; export CNC cutting The machine reached US$192 million, an increase of 10.78% from the previous quarter and an increase of 36.73% from the same period last year. In the first three quarters, South Korea's cumulative import value of CNC cutting machines was 1.394 billion U.S. dollars, an increase of 37.87% over the same period of 2010 of 1.011 billion U.S. dollars. The total number of CNC cutters exported was 1.603 billion U.S. dollars, an increase of 37.51% over the 1.165 billion U.S. dollars in the same period of 2010. In September, the import volume of CNC cutting machines in Korea continued to decline month-on-month, but the export volume rebounded. In the first three quarters of 2011, the Korean CNC cutter trade achieved a trade surplus of US$209 million.

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