The fastener imports and exports of Jiaxing city totaled $452 million in the first half of 2013, with exports down 21.43% to $414 million and imports down 27.97% to $11 million. The slump of Jiaxing fastener exports in the first half of this year should owe to the global economic downturn, the trade friction as well as the weakening export advantage of Chinese companies.
Jiaxing Fastener Exports Highlights:
1. Exports to the main markets weaken. EU, U.S. and Russia remained the three main consumers of Jiaxing’s fasteners. However, exports to all these markets contracted in the first half. Exports to U.S. fell 30.93% to $ 97 million, to EU decreased 24.29% to $79 million, and to Russia dropped 2.16% to $66 million.
2. The export value for most of the big exporters shrank. There were only 8 companies with the export value exceeding $10 million, compared with 11 ones in the same period of last year. Worse still, seven out of eight of these big exporters saw export value down with the largest decrease rate of 37.81%.
3. The general trade is still the main way to export fasteners. The export value by general trade in the first half amounted to $415 million, accounting for 94.01% of Jiaxing’s fastener exports.
4. Export volume and price both declined. The fastener export volume of Jiaxing city in the first half decreased 1.55% to 332,716 tons, with export value down 21.43% to $441 million. The average export price in the first half fell 5.8 percentage point to $1,325.4/ton from $1,406.3/ton in the same period of last year.