In 2011, the output value of Korean machine tools increased by 22.7% year-on-year

According to statistics released by the Korea Machine Tool Industry Association (KOMMA) on February 20, in 2011, new orders for Korean machine tools reached 4.33 trillion won (about 24.46 billion yuan), a year-on-year increase of 23.6%; machine tool output value was 3.48 trillion won ( About 19.66 billion yuan), a year-on-year increase of 22.7%. In terms of import and export, in 2011, the import of Korean machine tools was 1.791 billion US dollars, a year-on-year increase of 24.0%; the machine tool exports were 2.302 billion US dollars, a year-on-year increase of 37.2%; the surplus was 511 million US dollars.