2012 Taiwan Fastener Export Value May Decline 3~5% Due to Euro Debt Crisis

As the European sovereign debt crisis worsens, market analysts consider the high peak for Taiwan fastener exports to Europe has passed and with a slow recovery of the US economy, it is estimated that the fastener export value in 2012 will decline by 3~5% compared to last year.   

After the financial crisis, Taiwan fastener exports have swiftly recovered and reached record high sales of over NTD100 billion for two consecutive years. The export volume even achieved 1.43 million tons last year. In recent years, the fastener export growth of Taiwan has mainly come from the growing sales to the European markets; one of the reasons was that China was imposed the anti-dumping duty as high as 85% by the EU. However, the Euro debt crisis has shown its impact and the demand of the European market has declined. In the future, Taiwan fastener exports to the Europe will gradually drop. It is expected that Taiwan fastener export value would amount to NTD112 billion in 2012, down 3~5% compared to last year.