The fastener imports and exports of Jiaxing city dropped 5.72% year-on-year to $989 million in 2012 with exports down 5.79% to $964 million and imports down 0.78% to $25 million. The fastener exports fell 11.7% to $229 million in the fourth quarter of 2012. The export situation was not positive due to the European debt crisis, global economic gloom, the hike of material prices and labor cost, and difficulties in fund-raising.

Jiaxing Fastener Exports Highlights:

Exports to EU fell while to Russia and US increased. The U.S. and EU continued to be the main consumers of Jiaxing’s fasteners, importing 42.63% of Jiaxing’s fasteners to $411 million in 2012. However, exports to EU declined 21.37% year-on-year to $176 million. Exports to US rose 10.52% year-on-year to $235 million. Jiaxing’s fasteners exported to the emerging markets showed positive. Exports to Russia reached $121 million, taking up 12.54% of the total amount.

Half of the big companies’ export value dropped in 2012. There were 11 companies with export value exceeding $20 million. However, six of them showed differential decrease with the largest decrease rate of 32.91%.

The general trade is still the main way to export fasteners. The export value by general trade in 2012 totaled $910 million, down 5.14% year on year. The total export value by this took up 94.38% of Jiaxing’s fastener exports.

Export volume and price both declined. The fastener export volume of Jiaxing city in 2012 dropped 2.06% to 700809 tons, with export value down 5.79% to $965 million. The average export price in 2012 fell 4% to $1376/ton from $1430/ton in 2011.

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