10/4/2010 12:42:00 AM
NEWS BRIEFS
Taiwan Fastener Exports To U.S. Jump 46%

Taiwan’s fastener industry accelerated its recovery over the past year and is expected to see its annual output return to pre-recession levels in 2010, according to Taiwan Economic News.
 

Total industry output grew to NT$28.2 billion (US$909.89 million), a 17% quarter to quarter jump. Imports increased to NT$25.5 billion, with 35% consumed by the U.S. during the first five months of 2010.
 

“In quantity, Taiwan’s exports to the U.S. increased 46% year-on-year during the second quarter but were still 18% less than the figure for the same period of 2008,” writes Steve Chuang of the Economic News. 
 

Shipments to the EU soared over 80% to a total that was 19% higher than the same period of 2008, driven by EU tariffs on Chinese fasteners.
 

Fastener imports to the island reached NT$900 million in the second quarter, with 52% coming from Japan, 15% from the U.S. and 11% from China.
 

“This indicates, to some extent, that although Taiwan ranks among world’s top five fastener producers by output and has managed to go upmarket for years, the island still has to import top-end fasteners from advanced countries such as Japan,” Chuang writes. 
 

Taiwan’s fastener industry production value for the first half of this year reportedly surged 51% to NT$52.3 billion. Exports and imports for the first half were worth NT$47.3 billion and NT$1.9 billion, respectively, representing growth rates of 51% and 27%. Six-month domestic fastener sales expanded by 44% to NT$6.9 billion, reflecting Taiwan’s recovering economy. 
 

The Industry & Technology Intelligence Service predicts Taiwan’s fastener industry will achieve a 43% increase in production value to NT$108.5 billion this year, and a growth in export value of 43% to NT$98 billion, while export volume is expected to reach 1.25 metric tons.

Import value is expected to inch upward 6% to NT$3.6 billion.  ©2010 GlobalFastenerNews.com

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