Taiwan Machinery Exports Surge 21.1% in November, Marking 10 Consecutive Months of Growth

The Taiwan Association of Machinery Industry (TAMI) reported on December 10 that Taiwan's machinery exports expanded sharply in November, rising 21.1% year-on-year on US dollar terms. This marks the tenth consecutive month of positive growth since February. Cumulatively, machinery exports for the first eleven months of 2025 increased 8.5% year-on-year compared to the previous period last year, indicating a gradual sectoral recovery and steady expansion in Taiwan's overall machinery industry.

Machine Tool Exports Confront Weak Demand and Currency Pressures

However, machine tool exports decline to USD 165 million in November, down 14.8% year-on-year. Exports to the United States declined 27.7%, while exports to China fell 12.6%. The contradiction reflects muted market demand with a relatively strong New Taiwan Dollar (NTD) compared with competitor currencies. Full-year machine tool exports are expected to reach approximately USD 2 billion, the lowest since the 2009 global financial crisis, presenting significant operational challenges for manufacturers.

TAMI's data show that Taiwan's total machinery exports in November reached USD 2.95 billion, a 21.1% increase year-on-year (NTD 91.338 billion, up 16.5%). Cumulative exports for the first eleven months totaled USD 28.866 billion, up 8.5% year-on-year (NTD 897.367 billion, +5.3%). The top three export categories were precision measurement equipment (USD 4.99 billion, 17.3%), electronic machinery (USD 4.902 billion, 17.0%), and machine tools (USD 1.828 billion, 6.3%). Leading export destinations were the United States (USD 7.516 billion, 26.0%), China (USD 6.577 billion, 22.8%), and Japan (USD 2.222 billion, 7.7%).

Strong Exports to the US and China Show Double-Digit Growth in Two Months

TAMI also suggested that Taiwan's machinery exports are performing strongly in its two largest markets. From January to November, exports to China increased 6.2% to USD 6.58 billion, while exports to the US grew 14.2% to USD 7.52 billion. Following fluctuations caused by US reciprocal tariffs, global economic uncertainty has eased, with machinery exports to both markets showing double-digit growth in the past two months. Full-year export growth is expected to reach around 9% year-on-year.

The New Taiwan Dollar exchange rate remains a key factor affecting export competitiveness. Although the NTD has depreciated slightly recently, the adjustment is smaller than that of competitor currencies. From 2021 to December 9, 2025, the NTD has depreciated only by 9.8%, while the Japanese yen weakened by 52.2%, with a difference exceeding 42%. This counterbalances Taiwan’s historical price advantage of 20–30% below Japanese equipment market price, becoming a major factor contributing to the sharp decline in machine tool orders.