Jiaxing Fastener Exports Decline for Q1 of 2012
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Exhibition Name: Jiaxing Fastener Exports Decline for Q1 of 2012
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The fastener imports and exports of Jiaxing city down 0.83% to USD 212.28 million compared with the same period in 2011 due to the economic slowdown. The exports dropped 1.08% to USD 206.01 million while imports rose 6.94% to USD 6.27 million.

Jiaxing Fastener Exports Highlights:

1. Europe and US were still the main importers but value showed obvious decrease. Exports to Europe and US reached USD 97.03 million, accounting for 47.1% of the total fastener exports of the city. Fastener exports to US rose 35.37% to USD 55.53 million while exports to Europe dropped 11.82% to USD 41.50 million.

2. General trade takes up the largest proportion. Fastener exports by general trade declined 1.81% to USD 193.27 million, taking up 93.82% of the city’s total exports, while exports by processing trade increased 11.05% to USD 12.69 million.

3. Companies of high export value jumped. The number of companies with an export value of over USD 5 million in Jiaxing city for Q1 increased to 11 from 8 in the same period of 2011, with the total export value of USD 85.80 million.

4. The prices of steel or iron fasteners slightly rose. The steel or iron fastener exports in Jiaxing for the first quarter of 2012 decreased 8.7% to 143019 tons with exports in value down 1.08% to USD 206.01 million. The average price jumped 8.92% to USD 1440/ton from USD 1322/ton in the same period of 2011.

Challenges

1. The uncertainties of the international situation. The slow recovery of US economy, the unsolved European debt crisis and the weaken demand from other countries and regions in the world may make China’s fastener exports experience a hiccup or two in the future.

2. The price wars in the surrounding countries. Products from Vietnam, India, Cambodia, Thailand are all low value-added which will squeeze the market share of Chinese products overseas.

3. The slowdown of Chinese economy. As Chinese economy slows down, the development of the fastener industry decelerates. Chinese Academy of Sciences predicts that the growth of Chinese economy in 2012 will be around 8.5%, down 0.7% from 2011.

Opportunities

1. The government’s support helps create more opportunities. 2012 is the key year for China’s “12th Five-Year Plan”. The main task for the government is to keep the economy growing. For this case, many important projects will be started, especially on urban traffic, high-speed railway and nuclear power construction, which generate more opportunities for the companies.

2. The fast development of the emerging countries helps expand companies’ business chances. With the development of South Africa, Southeast Asia, Northeast Asia and Oceania, demand for fasteners surges. Chinese companies can expand their business in these emerging regions.

3. The Protectionist measures have aroused the government’s attention. The anti-dumping measures have grabbed the attention of the government who will create more favorable economic environment for companies to get enough financial help.

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