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For very long time the EU has been the major market of Chinese fastener exports, which represents 1/3 of the total volume. Under the impact of the European debt crisis in 2013, the increase margin of the fastener exports from China to the EU slowed down. In the 1st half of 2013, the YoY ratio of fastener exports from Jiaxing City to the EU dropped by 24.2%. During Jan. through Nov. 2013, only Germany, UK, and Italy were listed in the top destinations of Chinese fastener exports. Exports were 58 thousand tons for Germany, 36 thousand tons for UK, and 32 thousand for Italy.

In the future, the economy in the euro zone will gradually recover. It is expected by 2014 there will be substantial growth in the proportion of Chinese fastener exports to the EU. In addition, for the great number of Chinese fastener exporters, the unique and great market demand and mature trade environment in Europe as well as its attractive power and potential are irreplaceable by other markets.