Overview of Fastener Industry in Taiwan in the First Half

In the first half of the year, the value of Taiwan’s fasteners was NT$59.6 billion, a decrease of 3% from the same period in 2012; the value of exports was NT$55.5 billion, which was a decrease of 3% from the same period in 2012. Taiwan's local market demand was NT$6.3 billion, down 4% year-on-year; import value was NT$2.1 billion, down 6% year-on-year. In terms of export average unit price, the average unit price of Taiwan's fastener exports in the first half of the year was RMB 78/kg, a decrease of 5% from the same period in 2012.

In the first half of the year, Taiwan’s top five export destinations (ranked by export value) were: the United States (38% of total exports), Germany (9%), Japan (6%), the Netherlands (5%), and the United Kingdom (4%). Among the top five export destinations, the average unit price for exports to Japan was the highest, at 90.7 yuan/kg, and the remaining four countries were between 72 yuan/kg and 81 yuan/kg.

The top five sources of imports (ranked by imports) are Japan (49% of total imports), the United States (13%), China (9%), Germany (6%), and the Philippines (3%).

All along, the United States and the European Union are Taiwan’s major export markets. In the first half of the year, Taiwan exported approximately 280,000 tons of fasteners to the United States, an increase of 2% year-on-year. Compared to the recovery of the United States, the euro zone economy continues to be in a downturn, including continued tightening fiscal policies, severe credit conditions, high unemployment, and rising taxes. In the first half of the year, Taiwan’s fasteners exported to the EU-27 countries totaled 217,000 tons, down 7% from the same period in 2012 and a year-on-year decrease of 15,000 metric tons.

In the second half of the year, Taiwan’s fasteners will remain stable. The total output value for 2013 is expected to be NT$122.9 billion, an increase of 1% over 2012. The export value will be NT$114.3 billion, up 1% year-on-year; Taiwan’s local market Demand was NT$12.9 billion, down 2% year-on-year; import value was NT$4.3 billion, down 6% year-on-year.