Taiwanese Fastener Makers' Exports Rose by 14%

Driven by solid demand worldwide, Taiwanese fastener makers’ exports rose by 14% to NT$30.2 billion in the second quarter from the first, exceeding NT$30 billion per single-quarter for the first time, according to statistics compiled by the Metal Industries Research & Development Center (MIRDC). With export-led growth, the industry's overall output also increased at the same pace to NT$32.5 billion, with 93% or NT$30.2 billion of which exported. During the quarter, the local market demand expanded 10% quarterly to NT$3.3 billion, shows the MIRDC report. The industry finished the first-half with output of NT$61 billion as well as exports and imports of NT$56.7 billion and NT$2.1 billion, respectively, up 20% and 12% from the same period of last year. Meanwhile, local demand for fasteners also grew to NT$6.4 billion for a 17% growth. In the first-half, the U.S. imported 34% of Taiwan’s fasteners as the largest buyer, trailed by Germany (10%), the Netherlands (6%), Japan (6%) and the U.K. (4%), with such fasteners shipped to Japan having commanded the highest average of NT$93.4 per kilogram compared to those to the other four countries. On another front, Japan, the U.S., China, Germany and South Korea were Taiwan's top-five fastener suppliers, commanding 53%, 10%, 7%, 7% and 5% shares, respectively, in the first half. Source:chinafastener.com