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Taiwan's Fastener Exports Likely to Hit Record High in 2013

2013/12/24 | By Steve Chuang

Sustained by U.S.'s slow  economic recovery along with Europe gradually shaking off debt problems, Taiwan's fastener industry is very likely to see annual exports cap 2011's 1.422 million tonnes, an all-time high, in 2013.

According to the latest statistics from the Taiwan Industrial Fasteners Institute (TIFI), a trade group representing the island's fastener manufacturers, the industry's cumulative exports totaled some 1.32 million tonnes in the first 11 months of the year, up 4.93% year-on-year (YoY), valued at US$3.499 billion or US$2.648 per tonne, edging up 0.74% and dipping 4%, respectively.

In November alone, exports increased 14.67% YoY to approximately 110,000 tonnes, with average price of  US$2.694 per tonne to be 2.24% less than last November, TIFI's statistics show.

Based on shipments so far, it is predictable that the industry's annual export volume will beat the record high of 1.422 million tonnes achieved in 2011, when value peaked at US$3.973 billion, which, dampened by weaker prices, is unlikely to beat 2011's.

In fact, some insiders, such as Chun Yu Works & Co., Ltd. and Tycoons Group Enterprise Co., Ltd., have seen significant surge in export orders so far this year that are generally attributable to brighter economic prospects in both the U.S. and Europe.

Cumulative exports to the U.S., for example, where manufacturing is reviving under support by the federal government, showed a 1.76% growth during January-November, compared to the same period of last year. More testament of improving performance is that both the two said companies for now see order visibility throughout next February, to bode well for industry in 2014.

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Taiwan's Fastener Exports by Year
Year

2011

2012

Jan. to Nov., 2013

Export Volume

1.422 million tonnes

1.38 million tonnes

1.3217 million tonnes

Export Value

US$3.973 Bn.

US$3.79 Bn.

US$3.499 Bn.

Top Three Destinations by volume

The U.S., Germany and the Netherlands

The U.S., Germany and the Netherlands

The U.S., Germany and Japan

Source: Taiwan Industrial Fasteners Institute