Jiaxing fastener exports and imports rose 41.65% to $214.06 million for the first three months of 2011, taking up 3.5% of the total exports and imports value of the city due to the continuous recovery of the global economy, reported China’s Jiaxing Fasteners Import & Export Manufacturers Association. The exports jumped 42.80% to $208.20 million, and the imports rose 10.2% to $5.86 million.

Jiaxing Fastener Exports Highlights:

1. Europe and America were the main importers. Exports to European and American markets account for 42.29% of the total amount to $88.05 million. Exports to America were up 51.04% to $40.99 million, and to EU were up 45.97% to $47.06 million.

2. General trade takes up the largest proportion. Exports by general trade climbed 42.96% to $196.77 million, accounting for 94.51% of the total export value. Exports by processing trade jumped 40.10% to $11.43 million.

3. Companies of high export value rose. The number of companies with an export value of over $ 5 million in Jiaxing city for Q1 increased to 8 with the total export value of $ 74.22 million. And there are 46 companies with an export value of over $ 1 million for Q1, up 35.3% from the same period of 2010.

4. Exports of steel or iron fasteners keep rising. Exports of steel or iron fasteners rose 42.57% to 207.09 million RMB. The average price was $1,322/tones, up 22.07% compared with $1,083/tones of last year.

5. Exports to Japan saw a substantial increase. Exports to Japan for fasteners surged 41.13% to $7.31 million. Exports to Japan in March saw a sharp increase of 68.79% to $3 million. This can be seen that Jiaxing fastener exporting companies haven’t felt the impact of Japan earthquake.

Several factors contribute to the rise of Jiaxing’s fastener exports which include the recovery of global economy, the possible victory over the trade protectionism and the plan of product upgrade and transformation encouraged by the government.

However, there are some challenges ahead such as trade protectionism, the impact of Japan’s earthquake, the appreciation of RMB and so on. Therefore companies should continue to improve their competitive edge.

www.chinaFastenerinfo.net