The output value of Korean machine tools in the first seven months exceeded 900 billion won

According to the latest statistics from the Korea Machine Tool Manufacturers Association (KOMA), the cumulative output value of machine tools in South Korea in the first seven months of this year was 937.712 billion won. In July, the output value of machine tools was 117.227 billion won, down 4.69% from June. From January to July, the cumulative order value of Korean machine tools was 934.955 billion won. In a single month of July, new machine tool orders were 120.443 billion won, down 11.94% month-on-month and 55.2% lower than the same period last year. KOMA pointed out that from the second half of 2008, South Korean machine tool orders fell sharply, reaching the lowest point in January 2009. After that, due to the gradual stabilization of the international market, and the continuous recovery of the demand for large-scale machinery in the Korean shipbuilding, wind power generation and other industries, as well as the influence of factors such as the growth in demand from the electrical and electronic industry, the Korean machine tool orders slowly recovered. In terms of imports, from January to July, the cumulative value of imported machine tools in South Korea was 603 million US dollars. In July, the import value was 106 million US dollars, down 0.88% from the previous month. In terms of exports, from January to July, South Korea's cumulative export value of machine tools was 682 million US dollars. Among them, the monthly export in July was 88.443 million US dollars, an increase of 5.36% month-on-month. According to KOMA analysis, South Korea's machine tool exports to the United States, Europe and emerging markets have decreased significantly, while exports to China have risen slightly, and China is still the largest export market for South Korean machine tools.