Taiwan’s fastener production reached only NT$55.2 billion in the first eight months of this year, down 8.1% year-over-year, the worse since 2012 due to the gloomy economic situation in the first half of 2016.

Taiwan’s fasteners is famous for its quality and fast delivery with the nickname of “the Kingdom of Screws”. There are around 1,500 factories in total with over 30,000 employees in the industry. About 70% of Taiwan’s fasteners are mainly exported to US and Europe.

Taiwan’s fastener production surged to its highest level to NT$95.3 billion in 2011 and fell slightly in 2012 and 2013 due to the weak steel price and European debt crisis. In 2014 the production increased benefited from the recovery of American and European markets.

However, in 2015 Taiwan’s fastener production slipped to NT$ 88.5 billion for the weak global economy and companies’conservative investment as well as the fierce competition in the global market. Worse still, the production fell to only NT$55.2 billion in the first eight months of 2016 due to the order decrease from the two main markets, US and Europe, which fell 12.4% and 23.7% year-over-year, respectively.

www.chinaFastenerinfo.net