China:Taiwan Bearing Exports Grow 19%

Taiwan's Directorate General of Customs reported machinery and related product exports for January through April 2004 were up almost 20% over 2003. Bearings, gears, and ball screws are combined in the statistics released, recording USD $131 million in sales for the four month period, all three up more than 19% over 2003. As export markets for Taiwan's industrial equipment, China and Hong Kong led the way, followed by the United States (importing $681 million worth), Japan, Thailand, Vietnam, Malaysia and Germany. In total, Taiwan exported $3.8 billion of industrial equipment from January through April, up 19% over 2003, while it imported $5.3 billion, up 43% over 2003. Taiwan's machinery imports are heavily weighted toward its growing importance as a center of microelectronics manufacturing The Taiwan Association of Machinery Industry estimates industrial equipment and machinery exports will grow as fast as 25% annually by 2005, with 20% growth expected through the end of 2004.