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Taiwan’s Fastener Export Grows 30% in First 7 Months This Year
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     According to the latest statistics of Taiwan’s MOEA, Taiwan exported up to US$ 2.93 bn worth of fasteners to the world in the first 7 months this year, equivalent to an annual increase of 30%. USA was the largest export destination for Taiwan. In the first 7 months, Taiwan exported US$ 1.23 bn worth of fasteners to the U.S. (representing up to 42% of Taiwan’s total fastener export); the second largest export destination was Germany, to which Taiwan exported US$0.24 bn worth of fasteners in the same period (representing 8.3% of Taiwan’s total fastener export); The respective shares of the Netherlands, Japan, and the UK in Taiwan’s total fastener export were 5.6%, 4.6%, and 4.0%. The combined share of all these top 5 export destinations reached 64.4%. To view from the year-on-year export, in the first 7 months this year, the YoY ratio of Taiwan’s fastener export to Japan was only 3.8%, but the YoY ratios for the other 4 countries all revealed significant two-digit growths.

     In terms of the percentages of U.S. fastener import origins, in the first half of this year, Taiwan with the percentage of 37.5% was ranked the top one import origin of the U.S., followed by China (16.2%). The percentage difference between Taiwan and China has become larger than ever since the U.S.-China trade war in 2019. Japan with the percentage of 11.3% was ranked the 3rd place.

     In terms of the percentage of EU’s fastener import origins, after the EU terminated the anti-dumping measure against certain iron or steel fasteners originating in China in 2016, China’s fastener export to the EU appeared a significant growth and its percentage outpaced Taiwan in 2020. In the first 4 months this year, the percentage of China (26.1%) was ranked the 1st place, followed by Taiwan at 21.1% and the U.S. at 8.6%.    

     In recent years some Taiwanese fastener manufacturers have successfully tapped into the high value-added industries (aerospace and automotive, for example). With the rising number of people getting vaccinated this year, the gradual recovery of the global economic activities, and the significant uptick of steel prices, the production capacity of Taiwanese fastener industry will be once again pushed upward. To view the fastener production value of Taiwan, its production value in the first 5 months was NTD 57.9 bn, an increase of 21.5%. It is expected that the total fastener production value of Taiwan this year is very likely to perform better than last year.
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