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In 2020, Japan's machine tool orders fell below one trillion for the first time in a decade
The 2020 machine tool order performance (confirmed value) announced by the Japan Machine Tool Industry Association on January 21 was 901.835 billion yen, a year-on-year decrease of 26.7%, a decrease for two consecutive years. This is the first time in 10 years that it has fallen below 1 trillion yen, and both domestic and external demand have declined for the second consecutive year. Affected by factors such as the economic downturn and the epidemic, demand has further declined. Japan, which declared a state of emergency in May 2020, also entered a recovery trend after bottoming out, but the outlook remains uncertain and investment caution continues. Four major industries, including general machinery and automobiles, saw a decline in demand. Regarding the order environment in 2021, the Japanese union believes that 'China will continue to be the main market.' 'Other regions will also continue the recovery trend that began in the second half of 2020.'