China's Fastener Export to EU Increases Rapidly in 2014

EU has been China's main export destination for fasteners, accounting for one-third of total fastener export volume. The European debt crisis in 2013 slowed the growth of China's fastener export to EU. In H1 2013, fastener export from Jiaxing City (China) to EU dropped 24.2%. During Jan. to Nov. 2013, only Germany, UK, and Italy made it to the ranking of China's fastener export destinations. Export volumes were 58 thousand, 36 thousand, and 32 thousand tons, respectively.

In the future, as euro zone economy gradually recovers, fastener export from China to EU is estimated to increase considerably in 2014. To many Chinese export-based fastener companies, the European market is charismatic and irreplaceable in its enormous domestic demand and mature trading environment.