April 2011 Statistical Analysis of U.S. Fastener Import and Export

In April 2011, the US fastener import and export volume maintained a growth trend compared with the same period of last year. From January to April 2011, the US fastener export volume increased by 20.5% year-on-year, and the import volume increased by nearly 35% year-on-year. In March 2011, the US fastener exports to Canada and Mexico hit a record high this year, up 16% and 21% respectively year-on-year. Canada and Mexico are the two largest exporters of fasteners in the United States, accounting for about 60% of total exports. In terms of imports, Taiwan is still the largest importer of the United States, accounting for about 32% of total US fastener imports.

The growth of US import and export volume is mainly affected by several major factors. One of the important factors is the price of steel. With the rapid economic development in countries such as China and India, the demand for steel in the construction and manufacturing of these countries has continued to rise, and the strain on global resources has led to rising prices. At the same time, with the increase in the price of raw materials used in the fastener industry, fastener manufacturers are forced to increase the price of fasteners. In the future, if steel prices continue to rise, the price of fasteners will continue to rise.

Following the major earthquake and tsunami in March, the amount of fasteners imported by the United States from Japan fell sharply in April, a year-on-year drop of 12%. However, from January to April, the total number of US fasteners imported from Japan increased by nearly 11% compared with the same period of last year. Japan is still the third largest importer of fasteners in the United States.

On the whole, the development of the US fastener industry in 2011 was more optimistic than in 2010, but it will continue to face many challenges in the future.