The Japan Machine Tool Builders' Association (JMTBA) reported that global orders for Japan machine tools in April 2024 amounted to 120.90 billion yen ($777.78 million), a decrease of 10.9% from the previous month and 8.9% from the same month last year. This marked a continuous decline for 16 months.

JMTBA commented that domestic orders are showing signs of reaching their lowest point, similar to the weakening developments in Europe and the United States. The association will closely monitor future trends.

Domestic (in Japan) orders in April 2024 amounted to 36.37 billion yen ($233.99 million), a decrease of 26.2% from the previous month, marking the first decline in three months and a continuous decrease for 20 months, down 12.8%year-on-year. Orders decreased compared to March in the automotive industry by 7.2%, in the industrial machinery by 35.1%, in the electronics and precision machinery by 38.5%, while rose in the aircraft, shipbuilding, and transportation equipment by 51.4%.

Foreign orders in April 2024 closed at 84.53 billion yen ($543.79 million), an increase of  2.2% from the previous month, marking the first decline in three months and a 7.1% decrease compared to the same month last year, continuing a 16-month decline. The details by region are as follows:

• Asia recorded orders of 41.95 billion yen ($269.90 million), rose by 8.8% from March 2024. 
  • China's orders amounted to 26.56 billion yen  ($170.86 million), rose by 4.7%
  • India with orders totalling 5.54 billion yen ($35.68 million), marking a 28.5% increase.
  • Thailand had a total of 1.10 billion yen ($7.09 million) in orders, showing a 27.4% decrease.
• Europe saw orders of 16.95 billion yen ($109.04 million), marking a 1.8% decrease.
• North America, including Canada and Mexico, had orders of 22.70 billion yen ($146.03 million), reflecting a 19.6% decrease.
  • United States with orders totalling 18.89 billion yen ($121.58 million), reflecting a 21.9% decrease.

Read more: Japan Machine Tool Orders: March 2024