Japan Machine Tools Orders

Japan Machine Tool Orders: November 2023 Shows Resilience Amidst Global Fluctuations

Latest Update January 15, 2024
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The Japan Machine Tool Builders' Association (JMTBA) has reported that global orders for Japan machine tools in November 2023 reached a total of 115.90 billion yen (800 million USD). This indicates a 3.4% increase from the previous month, albeit a significant 13.6% decrease compared to the same month last year. Notably, the order volume has consistently remained above 100 billion yen for 34 consecutive months.

JMTBA suggests that the increase in November is supported by foreign orders, but no major changes have been observed in the order situation. They will closely monitor future trends.

Domestic (in Japan) orders in November 2023 amounted to 32.70 billion yen ($226 million), reflecting a 2.8% decrease from the previous month and a significant 28.4% drop compared to the same month in the preceding year. This decline has persisted for 16 consecutive months, with the automotive industry experiencing a 2.5% increase, industrial machinery falling by 7.9%, and electronics and precision machinery declining by 13.5%. Meanwhile, aircraft, shipbuilding, and transport equipment rose by 73.6% from October 2023.

Foreign orders in November 2023 closed at 83.20 billion yen ($574 million), reflecting a 6.1% increase from the previous month and a 6.0% decrease from the same month in the previous year. This marks the 11th consecutive monthly decline. Details by region are as follows:

  • Asia recorded orders of 33.69 billion yen ($233 million), an increase of 10.3% from October 2023. 
    • China's orders amounted to 22.04 billion yen  ($152 million), increasing 13.0%.
    • India with orders totalling 4.16 billion yen ($29 million), a significant 40.1% increase.
    • Thailand had a total of 1.37 billion yen ($9 million) in orders, showing a 20.8% decrease.
  • Europe saw orders of 20.18 billion yen ($139 million), marking a 10.8% decrease.
  • North America, including Canada and Mexico, had orders of 26.70 billion yen ($184 million), decreasing by 3.1%.
    • United States with orders totalling 23.52 billion yen ($162 million), reflecting a 4.7% decrease.

 

Read more Japan Machine Tools Orders in October 2023: Thailand Showing a 12.5% Increase.