Analysis of the decline in the export value of machine tools in South Korea in July 2012

According to the statistics of Korea Machine Tool Manufacturers Association (KOMMA), in July 2012, the output and import of Korean machine tools continued to increase month-on-month, while orders and exports declined. It is understood that in July 2012, the output value of South Korean machine tools was 342.14 billion won, an increase of 1.5% from the previous month; the output value of the first seven months was 2.2 trillion won. In July, new orders for machine tools were 270.53 billion won, down 20.6% from the previous month; new orders for machine tools in the first seven months were 2.3 trillion won. In terms of import and export trade, in July 2012, South Korea imported 140 million US dollars of machine tools, an increase of 14.6% from the previous month; exported machine tools of 200 million US dollars, a decrease of 22.9% from the previous month, achieving a trade surplus of 140 million US dollars. In the first seven months, imports were US$950 million and exports were US$1.52 billion, achieving a surplus of US$570 million. According to statistics, since January 2012, the output value of Korean machine tools has continued to increase, and the import has also been increasing, but the import began to decline in April, the import began to stabilize in June, and the import increased again in July, while the export fell sharply.