Title page 1

Contents 2

Key Takeaways 1

Introduction 2

Machine Tools Production 4

Machine Tools Output as a Relative Share of Durable Goods Manufacturing Workers 6

Metal-Forming Machine Tool Production 8

Metal Cutting Machine Tool Production 10

Machine Tools Consumption 13

Machine Tool Consumption as a Relative Share of Durable Goods Workers 17

Metal-Forming Machine Tool Consumption 19

Metal Cutting Machine Tool Consumption 22

Machine Tool Trade Balance 26

Machine Tools Industry: United States Versus China 27

Conclusion 29

Endnotes 30

Tables 3

Table 1. Strengths and weaknesses of different types of machine tool production indicators 3

Table 2. Strengths and weaknesses of different types of machine tool consumption indicators 4

Figures 5

Figure 1. Machine tool production LQ for the top 29 nations with the highest machine tool production in 2022 5

Figure 2. Machine tool output as a share of workers relative to the global average for the 29 nations with the highest machine tool production in 2022 6

Figure 3. Machine tool output as a relative share of durable goods manufacturing workers for a subset of OECD nations with the highest... 7

Figure 4. Metal-forming machine tool production LQ for the top 19 nations with the highest machine tool production in 2022 8

Figure 5. Metal-forming machine tool output as a relative share of workers for the top 19 nations with the highest machine tool production in 2022 9

Figure 6. Metal-forming machine tool output as a relative share of durable goods manufacturing workers for a subset of OECD nations... 10

Figure 7. Metal cutting machine tool production LQ for the top 19 nations with the highest machine tool production in 2022 11

Figure 8. Metal cutting machine tool output as a relative share of workers for the top 19 nations with the highest machine tool production in 2022 12

Figure 9. Metal cutting machine tool output as a relative share of durable goods manufacturing for a subset of OECD nations with the highest... 13

Figure 10. Machine tool consumption value as a relative share of GDP for the top 29 nations with the highest machine tool consumption in 2022 14

Figure 11. Machine tool consumption value as a relative share of workers for the top 29 nations with the highest machine tool consumption in 2022 16

Figure 12. Machine tool consumption value as a relative share of manufacturing workers for the top 28 nations with the highest machine... 17

Figure 13. Machine tool consumption as a relative share of durable goods manufacturing workers for a subset of OECD nations with the highest... 18

Figure 14. Metal-forming machine tool consumption as a relative share of GDP for the top 19 nations with the highest machine tool consumption in 2022 19

Figure 15. Metal-forming machine tool consumption as a relative share of workers for the top 19 nations with the highest machine tool consumption in 2022 20

Figure 16. Metal-forming machine tool consumption as a relative share of manufacturing workers for the top 18 nations with the highest... 21

Figure 17. Metal-forming machine tool consumption as a relative share of durable goods manufacturing workers for a subset of OECD nations... 22

Figure 18. Metal cutting machine tool consumption as a relative share of GDP for the top 19 nations with the highest machine tool consumption in 2022 23

Figure 19. Metal cutting machine tool consumption as a relative share of workers for the top 19 nations with the highest machine tool consumption in 2022 24

Figure 20. Metal cutting machine tool consumption as a relative share of manufacturing workers for the top 19 nations with the highest... 25

Figure 21. Metal cutting machine tool consumption as a relative share of durable goods manufacturing workers for a subset of OECD nations... 26

Figure 22. Machine tool trade balance index for the top 24 nations with the highest machine tool imports and exports in 2022 27

Figure 23. U.S. and Chinese firms' global market shares in machinery and equipment 28