Orders for Japanese machine tools worldwide in May 2024 amounted to 124.53 billion yen (US$774.71 million), up 3.0% from the previous month, and a 4.2% increase from the same month last year, according to the Japan Machine Tool Builders' Association (JMTBA).

JMTBA commented that although orders have gradually increased, future trends must be closely observed.

Domestic (in Japan) orders in May 2024 reached 34,837 billion yen (US$216.72 million), down 4.2% from the previous month and marking the second consecutive month of decline. Year-on-year, orders fell 7.9%, extending the decline to 21 consecutive months. By industry, orders for automotive fell 12.8%, orders for industrial machinery rose 11.9%, orders for electronics and precision machinery fell 0.5%, and orders for aircraft, shipbuilding, and transportation equipment fell 23.9%.

Overseas orders in May 2024 reached 89.69 billion yen (US$557.98 million), up 6.1% from the previous month and 9.8% from the same month the previous year. This marks the first increase after 16 consecutive months of decline. Details by region are as follows:

• Asia recorded orders of 42.62 billion yen ($265.11 million), rose by 1.6% from April 2024. 
  • China's orders amounted to 27.99 billion yen  ($174.11 million), rose by 5.4%
  • India with orders totalling 4.20 billion yen ($26.12 million), marking a 24.3% decrease.
  • Thailand had a total of 2.19 billion yen ($13.56 million) in orders, showing a 98.2% increase.
• Europe saw orders of 17.26 billion yen ($107.39 million), marking a 1.8% increase.
• North America, including Canada and Mexico, had orders of 27.63 billion yen ($171.90 million), reflecting a 21.7% increase.
  • United States with orders totalling 23.60 billion yen ($46.82 million), reflecting a 24.9% increase.

Read more: Japan Machine Tool Orders: April 2024