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Taiwan's Screw Industry Hit Another Record High This Year
- Sep 19, 2018 -

Taiwan has a place in the global screw and nut supply market. This year, due to the continuation of economic recovery momentum, export orders are booming. From January to June, the output value of screw nuts reached 69.5 billion yuan, an annual increase of 15%. It is estimated that this year's annual output value is expected to break through. 140 billion yuan, a record high.

The Ministry of Economic Affairs announced that the industrial economic statistics pointed out that in 2014, the output value of screw nuts in China reached a record high of 129.7 billion yuan. In 2015 and 2016, due to the global economic slowdown, corporate investment turned conservative, and international competition was fierce and low-priced. The output value of the two years was slightly reduced. In 2017, thanks to the recovery of the economy and the increase in international raw material prices, the output value increased to 126.9 billion yuan. It is estimated that the export of screw nuts will hit a record high this year.

Taiwan's screw nut is export-oriented, and the direct export ratio accounts for more than 80%. In 2017, it benefited from the accelerated recovery of the main export areas, and the steel price increased, with an export value of 4.09 billion US dollars, climbing to the highest peak this year. Export orders continued to be prosperous, and domestic screw products were actively developed towards high value, developing aerospace, automotive and medical applications. The average unit price of exports increased. The export value from January to August was 3.08 billion US dollars, an annual increase of 16.6%. The export value is expected to exceed US$4.5 billion, a record high.

The Statistics Department of the Ministry of Economic Affairs pointed out that the United States exports to China's major markets, with exports of 1.15 billion US dollars from January to August this year, accounting for 37.3%; exports to Germany 300 million US dollars, accounting for 9.9%; exports to the Netherlands and Japan each 5%; exports to the UK, Canada, and China each accounted for more than 3%, and the top 7 accounts for 68.7%. As for the annual growth rate of export value, except for the increase of 6.7% in mainland China and 1.4% in the UK, the rest have double-digit growth.

Taiwan has the highest market share in the US and EU screw and nut import markets. As for the market share of China's screw and nut import market in the United States, China's market accounted for 32.0% of the first place in the first six months of this year, with mainland China accounting for 25.8% and Japan accounting for 11.5%. In the EU import market, China's market accounted for 25.4%, China's mainland accounted for 19.4%, surpassing the United States in 2017, and the United States accounted for 13.2%.