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In terms of orders, in October, South Korea's new machine tool orders were 229.937 billion won, up 12.52% from the previous month and up 11.1% year-on-year. In the first 10 months, the cumulative machine tool order was 1,057.775 billion won.
In terms of import and export trade, in October, South Korea imported machine tools of US$88.875 million, down 10.37% from the previous month and down 10.2% year-on-year; export machine tools were US$66.925 million, down 29.79% from the previous month and down 58.9% from the same period last year. From January to October, South Korea's cumulative import of machine tools was 875.56 million US dollars, and the cumulative export of machine tools was 922.38 million US dollars.
The data shows that due to the global economic downturn, South Korea’s exports to the United States, Europe and emerging markets have decreased significantly, while exports to China have risen slightly. China remains the largest exporter of Korean machine tools.
South Korea's machine tool output fell 36.4% year-on-year in October
The latest statistics from the Korea Machine Tool Manufacturers Association (KOMA) show that in October 2009, the country's machine tool production value was 134.928 billion won, down 17.2% from the previous month and down 36.4% from the same period last year. From January to October this year, South Korea's cumulative production of machine tools was 1,394.912 billion won.