Mexico Replaced Brazil as the Largest Destination Market for Taiwan Fastener Export Since 2012

Mexico Ranks 11th in the world by its population of 112 million people, and Brazil ranks 5th by 190 million people. Both are high consumption nations with a large number of consumers, and are the two most critital Latin American markets for Taiwan for their booming economy and keen desire for imported goods.

According to Bureau of Foreign Trade, (excluding the export resold to Mexico through the US) the export value from Taiwan to Mexico reached USD 2.404 billion, second to the export value of USD 5.032 billion from Taiwan to Brazil. If we only take the foreign sales value of Taiwanese fasteners into comparison, Mexico has become the largest market for Taiwan fastener export since 2012.

In 2012, Taiwan exported USD 49.375 million worth of fasteners to Mexico, outrunning Brazil's USD 40.508 million, which is followed by Chile, Colombia, and Argentina with USD 5-10 million respectively. The export to other Latin American nations are comparatively much less (lower than USD 5 million).

Most notably, Taiwan fastener export declined in 2012 with its global export value down 6.17% from 2011's USD 3.808 to 2012's USD 3.586. However, Taiwan's export to Mexico jumped by 16.9%, during the year mexico replaced brazil as the largest market for Taiwan fastener export. This indicates that Mexico is showing increasing demand for Taiwanese fasteners. Mexico's potential and significance is self-evident.

Overviewing the global fastener market, Taiwan's fastener export to Latin America only take 3.68% of global export. Although the proportion is low, there is substantial room for the development of fasteners in Latin America where the automobile, home appliances, construction, metal products, and wooden product industry is advancing.