5/20/2014 1:29:00 AM
HEADLINES
U.S. Fastener Figures Reveal Modest Q1 Growth
U.S. fastener exports and imports achieved modest growth in the opening quarter of 2014.
Exports of U.S. fasteners rose 5.5% during the first three months of the year, according to data released by the U.S. Census Bureau.
Imports fared better, with fastener imports to the U.S. growing 7.25% during Q1.
Those figures were boosted by solid gains during March.
U.S. fastener exports of iron and steel fasteners (HTS Code: 7318) increased 7% to $320.8 million in March, boosted by rising demand from Mexico and China, Zepol reports.
The top five consumers of U.S. fastener exports in March were Mexico (up 7% month-to-month to $100.2 million); Canada (up 1.7% to $90.7 million); the UK (down 7.6% to $14.5 million); China (up 11.9% to $13.2 million); and Germany (up 6.8% to $9.9 million), according to Zepol.
Imports of iron and steel fasteners (HTS Code: 7318) to the U.S. also increased in March, growing 8% to $387.3 million despite value gains from Taiwan, Japan, Germany and Canada, according to data released by the U.S. Census Bureau.
The top five countries importing fasteners to the U.S. during March were Taiwan (up 9.3% month-to-month to $118.9 million); China (down 15.6% to $67.3 million); Japan (up 11.1% to $61.8 million); Germany (up 17.3% to $27.1 million); and Canada (up 4% to $26.1 million), Zepol reports.
In 2013 U.S. fastener exports grew 9.1% to $3.6 billion, while fastener imports fell 2.2% to $4.49 billion. ©2014 GlobalFastenerNews.com
This data was derived from Zepol’s trade intelligence tool, TradeView, using U.S. import and export trade data released by the U.S. Census Bureau in the Merchandise Trade dataset.
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