According to Taiwan Intelligence Network (ITIS) statistics, the total production value of fasteners in Taiwan in the second quarter of 2010 reached 28.2 billion TWD, an increase of 17% compared with the first quarter, exceeding the 35% of last year's total output value of 55.8 billion TWD. Among them, Taiwan's fastener exports in the second quarter amounted to 25.5 billion Taiwan dollars. Since the sign of a recovery in the global economy in the second half of 2009, Taiwan’s fastener exports have maintained steady growth in the past four quarters.
The data also shows that from January to May 2010, 35% of Taiwan's fasteners were exported to the United States, 8% to Germany, 5% to Japan, and 4% to the Netherlands and China. The export volume of these five major exporting countries accounts for more than 50% of Taiwan’s total exports of fasteners. In the second quarter, fasteners exported from Taiwan to the United States increased by 46% year-on-year, but remained at a relatively low level compared to the same period in 2008. The fasteners exported to the EU grew by more than 80% year-on-year, an increase of 19% compared with the same period in 2008. This was mainly attributed to the EU's anti-dumping duties imposed on Chinese fasteners on January 31, 2009, prompting many importers to turn their gaze to Taiwan.
At the same time, Taiwan's fastener imports amounted to 900 million Taiwan dollars in the second quarter, which is equivalent to the amount of imports in the first quarter. Of these, 52% of fasteners are imported from Japan, 15% from the United States, 11% from mainland China, 6% from Germany, and 3% from Vietnam. From this data, it can be seen that although Taiwan is one of the top five fastener export regions in the world and has developed well in the high-end market in the past few years, it still needs to import high-end fastener products from many developed countries.
ITIS forecasts that in the global economy, the production value of fasteners in Taiwan will reach 108.5 billion TWD in 2010, an increase of about 43% year-on-year. The export value will reach TWD 98 billion, an increase of 43% year-on-year; the import volume will be TWD 3.6 billion, up 6% year-on-year. Total exports will return to pre-crisis levels of 1.25 million metric tons.
The data also shows that from January to May 2010, 35% of Taiwan's fasteners were exported to the United States, 8% to Germany, 5% to Japan, and 4% to the Netherlands and China. The export volume of these five major exporting countries accounts for more than 50% of Taiwan’s total exports of fasteners. In the second quarter, fasteners exported from Taiwan to the United States increased by 46% year-on-year, but remained at a relatively low level compared to the same period in 2008. The fasteners exported to the EU grew by more than 80% year-on-year, an increase of 19% compared with the same period in 2008. This was mainly attributed to the EU's anti-dumping duties imposed on Chinese fasteners on January 31, 2009, prompting many importers to turn their gaze to Taiwan.
At the same time, Taiwan's fastener imports amounted to 900 million Taiwan dollars in the second quarter, which is equivalent to the amount of imports in the first quarter. Of these, 52% of fasteners are imported from Japan, 15% from the United States, 11% from mainland China, 6% from Germany, and 3% from Vietnam. From this data, it can be seen that although Taiwan is one of the top five fastener export regions in the world and has developed well in the high-end market in the past few years, it still needs to import high-end fastener products from many developed countries.
ITIS forecasts that in the global economy, the production value of fasteners in Taiwan will reach 108.5 billion TWD in 2010, an increase of about 43% year-on-year. The export value will reach TWD 98 billion, an increase of 43% year-on-year; the import volume will be TWD 3.6 billion, up 6% year-on-year. Total exports will return to pre-crisis levels of 1.25 million metric tons.
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