UK machine tool exports rise in first quarter 2006

Exports of UK metal working machine tools in the first quarter of 2006 reached GBP 113.7 million - 22.8% higher than in the same period in 2005 - seen as a positive start to 2006.
Exports of metal working machine tools from the UK in the 1st quarter of 2006 reached GBP 113.7 million; although this is -9.0% lower than in the final quarter of 2005, that particular quarter was one of the best for four years and the 1st quarter total for 2006 is +22.8% higher than in the same period in 2005. Imports of metal working machine tools into the UK were worth GBP 105.4 million in the first quarter; this is an increase of +1.8% on the final period of 2005 and is +9.9% higher than in the 1st quarter of 2005. As a result, there is a trade surplus of +GBP 8.4 million making this the fourth consecutive quarterly surplus in the current sequence.

Analysis by product type shows that while the usual categories of CNC grinding Machines (+GBP 4.7 million) and Machining Centres (+GBP 4.7 million) were important, the two largest contributors to the trade surplus in this quarter were Non-CNC Lathes (+GBP 6.2 million) and Non-CNC drilling machines (+GBP 5.2 million); in both cases, it was a good export performance which gave these surpluses, so they might be expected to be one-off occurrences.

The most significant trade deficits were for sawing machines (-GBP 4.6 million), Non-CNC milling machines (-GBP 4.0 million) and CNC lathes (-GBP 3.1 million).

Metal cutting machines accounted for 79% and metal forming machines for 21% of exports; for imports the ratios were 76% and 24% respectively.

By region, exports to the other EU25 countries fell by -6.4% compared to the first quarter of 2005, while trade with the rest of the world increased by +62.2%, led by increases of +53% for the USA and +144% for China - for the latter, this was the third best ever quarter (behind 1995/Q2 and 2005/Q4).

The growth in imports was more evenly balanced with an increase for arrivals from the other EU25 of +8.7% above the level seen in the first quarter of last year, while imports from the rest of the world were up by +11.4%.