China Widens Gap as Leading Consumer of Machine Tools

Chinese factories purchased an estimated $6.58 billion worth of machine tools in 2003, adding almost $1.4 billion to China's 2002 nation-leading total and further widening the gap with runners-up competitor nations: Germany ($4.37 billion), Japan ($4.10 billion), the United States ($3.89 billion), and Italy ($3.29 billion). Rounding out the top ten consuming nations, according to the 2004 World Machine Tool Output & Consumption Survey, are South Korea ($2.76 billion), Taiwan ($1.14 billion), Canada ($1.10 billion), France ($1.10 billion), and Spain ($884 million).