Subscribe to our newsletters
Find out about the latest news, subsidies and events for the new Basque industryWe tell you about it here
The machine tool and advanced manufacturing technology sector managed to sidestep the uncertainty and maintain turnover in 2014 at a very similar level to the figures achieved the previous year, despite having had an erratic start to the year.
At the end of 2014, income for the sector recorded a slight decline of 0.2% compared to the previous year, thanks to the evolution of the metal cutting subsector, which grew by 8.5% in 2014 over the previous year, according to data provided by the Spanish Machine Tool Manufacturers Association (AFM).
However, it was heavily burdened by the collapse of the metal forming segment, which recorded negative growth of 25%. Other subsectors experienced the following improvements: components (+4.3%), other machines (+24.3%), tools (+11.3%) and machining (+3%).
“We are experiencing a situation of uncertainty, in which our major export markets are suffering too much, especially Germany. Also China, whose growth model change is slowing down investment, and India, which has been undergoing two very difficult years, although it seems to be starting to wake up”, states the President of the AFM, Antxon López Usoz.
For the entrepreneur, the good news lies in the fact that the sector has managed to compensate by attracting new customers in the USA, United Kingdom, France, Italy and Mexico, as well as the budding improvement in the domestic market.