Japan Machine Tools Orders

Japan Machine Tool Orders: January 2024

Latest Update February 5, 2024
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The Japan Machine Tool Builders' Association (JMTBA) has reported that global orders for Japan machine tools in January 2024 amounted to 110.96 billion yen ($755 million), a decrease of 12.7% from the previous month, marking the first decline in three months. Moreover, this is a 14.0% decrease compared to the same month last year. Notably, the total orders have remained above 100 billion yen for 36 consecutive months but fell below 120 billion yen for the first time in two months.

JMTBA commented that while orders in January declined due to seasonal factors, the overall trend showed a gradual slowdown. They will closely monitor the trend in the future.

Domestic (in Japan) orders in January 2024 amounted to 30.60 billion yen ($208 million),  down 20.0% from the previous month and marking the first decline in two months. However, compared to the previous year, this figure represents a continuous decrease of 29.5% for the 17th consecutive month. Orders decreased compared to December in the automotive industry by 29.5%, industrial machinery by 13.3%, electronics and precision machinery by 19.1%, and aircraft, shipbuilding, and transportation equipment by 49.1%.

Foreign orders in January 2024 closed at 80.36 billion yen ($546 million), down 9.5% from the previous month and marking the first decline in three months. This also represents a 6.2% decrease from the same month last year, marking a continuous decline for the 13th month. The details by region are as follows:

  • Asia recorded orders of 36.82 billion yen ($250 million), down 5.3% from December 2023. 
    • China's orders amounted to 22.69 billion yen  ($154 million), down 6.0%.
    • India with orders totalling 4.23 billion yen ($43 million), a significant 33.0% decrease.
    • Thailand had a total of 2.25 billion yen ($15 million) in orders, showing a 5.7% increase.
  • Europe saw orders of 16.74 billion yen ($134 million), marking a 14.3% decrease.
  • North America, including Canada and Mexico, had orders of 24.33 billion yen ($165 million), declining by 12.7%.
    • United States with orders totalling 21.05 billion yen ($143 million), reflecting a 12.8% decrease.

 

Read more: Japan Machine Tool Orders: December 2023