Mexico sales bring trade surplus for machine tools

The UK machine tool sector recorded a rare trade surplus in the first half of 1999 as a surge in demand from Mexico balanced lower sales in the US and Europe. Around £30m of UK-made machine tools were exported to equip an engine plant being built in Mexico. Exports to EU countries dropped over 10%, […]

The UK machine tool sector recorded a rare trade surplus in the first half of 1999 as a surge in demand from Mexico balanced lower sales in the US and Europe.

Around £30m of UK-made machine tools were exported to equip an engine plant being built in Mexico.

Exports to EU countries dropped over 10%, but sales in Germany were down just 4%.

Geoff Noon, a statistician for the Machine Tools Technologies Association, said: `Sales to the euro zone held up. But there is a worry about how companies are keeping the business.’

Machine tool imports fell 34%, in line with a general drop in demand.