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Taiwan Sees 30.9% Growth in Nut and Bolt Exports

Taiwan Sees 30.9% Growth in Nut and Bolt Exports

Christina

1 min read

Exports of bolts and nuts reached US$2.93 billion in the first seven months of this year, an annual increase of 30.9 percent, the Ministry of Economic Affairs said Wednesday, August 16th, 2021.

The increase came as the US and Europe reopened their economies and many governments pushed infrastructure projects after reining in COVID-19 outbreaks, the ministry said in a statement.

• US was the main market for Taiwanese bolts and nuts in the first seven months of this year with 42% total exports, the ministry said.
→ Taiwan was the largest exporter at 37.5%
→ China followed by 16.2%

“While the first seven months of the year saw positive growth, time will tell whether the Delta variant [of SARS-CoV-2] will seriously affect the global recovery for the rest of the year,” Huang said.

The industry peaked in 2018, with exports of US$4.64 billion, but shipments declined by 6.9 percent year-on-year in 2019 and dropped another 8 percent last year due to the US-China trade dispute and the global downturn caused by the COVID-19 pandemic, it said.

Reference:
Oung, A. (2021, August 16). Revived economies BOOST nuts and bolts BY 30.9%. Taipei Times. https://taipeitimes.com/News/biz/archives/2021/08/17/2003762716.