Overview of the Market for Machine-Tool For Removing Material in Belgium
In value terms, machine-tool for removing material production expanded slightly to $ in estimated in export prices. Over the period under review, the total production indicated a noticeable increase from 2007 to : its value decreased at an average annual rate of -% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2011 when the production volume increased by % against the previous year. Over the period under review, production attained the maximum level at $ in 2013; however, from 2014 to , production failed to regain the momentum.
The value of the machine-tool for removing material market in Belgium shrank notably to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2014 when the market value increased by % against the previous year. Over the period under review, the market attained the maximum level at $ in 2007; however, from 2008 to , consumption failed to regain the momentum.