In 2013, manufacturing investment struggled to gain momentum due to overcapacity, with infrastructure development becoming the key driver for stable economic growth. While exports were expected to improve compared to 2012, they were unlikely to return to previous high-speed growth. China’s foreign trade was entering a challenging adjustment phase, with low-speed, stable growth becoming the norm in the long term. On the consumption front, income distribution reforms had a slow impact on consumer spending, and short-term results were hard to see. Consumption remained a stabilizer for the economy but was not expected to significantly boost growth.
Meanwhile, global capital markets continued to decline, leading to a sharp drop in investor confidence and a large outflow of funds. This trend also affected Chinese companies that had listed overseas, resulting in heavy losses. Only 24 companies managed to raise $2.981 billion through listings in four major overseas markets, marking a significant year-on-year and month-on-month decrease.
From January to May 2013, Taiwan's largest export market for machine tools remained mainland China and Hong Kong, with exports totaling $478 million—a 18% drop from the previous year, though still accounting for over 33% of total exports. The U.S. was the second-largest market, with $168 million in exports, down 18.3%, while Thailand ranked third at $103 million, a 3.8% decline. Overall, Taiwan's machine tool exports fell by 18.3% year-on-year to $1.416 billion, although May saw a slight increase of 1.1% compared to April, signaling gradual stabilization.
According to China’s National Bureau of Statistics, the output of metal cutting machine tools in the first half of 2013 dropped to 360,000 units, a 12.4% decrease from the same period in 2012. It was estimated that annual output would fall below 700,000 units, about 100,000 fewer than in 2012. In June alone, output stood at 67,000 units, down 6.9% year-on-year.
In Japan, the eight major machine tool manufacturers reported combined orders of 219.43 billion yen in the first half of 2013, a 17.1% year-on-year decline. Companies like Mori Seiki, Okuma, Makino, and others experienced reduced orders, attributed to slowing Chinese demand, declining smartphone production, and post-flood recovery needs in Thailand. The Japan Machine Tool Industry Association reported that machine tool orders in June fell 12.4% year-on-year to 95.179 billion yen, marking the 14th consecutive month of decline. Domestic orders dropped 7.9%, while overseas orders fell 14.5%. Among the top eight manufacturers, only Mori Seiki showed an increase, while the rest faced downward trends.
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