South Korea's machine tool import and export both increased in 2011

According to statistics released by the Korea Machine Tool Industry Association (KOMMA) a few days ago, new orders for Korean machine tools amounted to 4.33 trillion won (approximately 24.46 billion yuan) in 2011, a year-on-year increase of 23.6%; machine tool output value 3.48 trillion won (approximately 19.66 billion yuan (RMB), an increase of 22.7% year-on-year. In terms of imports and exports, in 2011, the imports of machine tools from Korea reached 1.791 billion U.S. dollars, an increase of 24.0% year-on-year; the machine tool exports were 2.302 billion U.S. dollars, an increase of 37.2% year-on-year; the surplus was 511 million U.S. dollars.