ITIS: Prodcution Value of Metal Fasteners Remains Stable

According to the statistics by the IT IS Project of MIRDC, the production value of metal fasteners in Q2 was stable, in which the average export unit price was NTD 78.5/kg, a minor decline of 3.2%. IT IS estimates the export value of full-year 2013 would be around NTD 114.3 billion, with producion value at NTD 122.9 billion, and the average annual growth at around 1%.

In ITIS (Industry & Technology Intelligence Service) statistics, the export value of metal fasteners in Q2 was NTD 29 billion, a YOY 1% decline. In imports, Q2 export value was NTD1 billion, a YOY18% decline. The average export unit price in Q2 was NTD 78.5/kg, declining 3.2% from previous year.

In terms of US, the main export destination of Taiwan, MIRDC points out that the US economy is recovering with fewer strength, backed by the support of growing expenditure and the regular housing/non-housing investment, plus the returning PMI at 50.9 points in June. Fastener export from Taiwan to US in H1 was around 286 thousand tons, up 2% from 2012.

In contrast, the eurozone economy continues to decline as seen in the tensed financial policy and bad condition of credit loans which are unfavorable to medium and small corporations. Consumers are facing non-stop high unemployment rate, low wage growth, increasing taxes, and decreasing social welfare.

The average export price to US in H1 was NTD 72.7/kg; the average export price to EU was NTD 76.1. Both are lower than the previous year.

MIRDC stresses that due to the slower economy growth in emerging nations like China, the eurozone is still in the decline whereas the US economy turns stable, and that the Japanese economy is expected to turn strong. Taiwan fastener export in H2 will remain stable, and the export value in Q3 was around NTD 29.4 billion, up 2% with total production value of NTD 31.6 billion. The 2013 full year export value will be around NTD 114.3 billion, an annual average growth of 1% with production value of NTD 122.9 billion.