Taiwan’s fastener export volume in 2018 rose 5.25% to 1.68 million tons and the export value increased 12.75% to US$ 4.85 billion, ChinaFastener.Info reports.

The average price increased 7.1% to $ 2.884/KG, according to the statistics of Taiwan Industrial Fasteners Institute (TIFI). TIFI noted that the economic recovery in the U.S. and Germany, along with an increase in the average price and stable material supply, are reasons for Taiwan’s record-high fastener exports in 2018, ChinaFastener.Info reports.

The top fastener export destination was the U.S., which consumed about 41.5% of all the fasteners Taiwan produced in 2018.

The next largest consumer country was Germany, which consumed about 2% more last year than in 2017.