China's screws and nuts rank first in the import market share in the United States and Europe.

China's screws and nuts rank first in the import market share in the United States and Europe.

The Ministry of Economic Affairs said recently that China's screws and nuts are of good quality and rapid delivery, and enjoy the international reputation of "Screw Kingdom", with more than 1500 factories and more than 30, 000 employees. The largest industrial settlement is located in Kaohsiung, with nearly 600 factories and 15, 000 employees, making it one of the world's main suppliers of screws and nuts.

The output value of screws and nuts in China reached a record high of 95.3 billion yuan in 100 years, and decreased slightly for two consecutive years due to the weakness of international steel prices and the spread of the European debt crisis. 103 years benefited from the recovery of European and American markets, which led to the growth of export demand, and the output rebounded obviously. however, due to the low steel price, the output value of 103 years was 93.6 billion yuan, which was higher than that of the previous year, an increase of 10.0% over the previous year. In 104 years, the global economy slowed down and enterprise investment tended to be conservative. coupled with the fierce international competition to grab orders at low prices, the output value was reduced to 88.5 billion yuan. The economy was weak in the first half of this year, and the number of orders received was lower than expected. The cumulative output value from January to August was 55.2 billion yuan, an annual decrease of 8.1%.

China's screws and nuts are export-oriented, and the direct export ratio accounts for about 80%. From January to September in 105, the exports of screws and nuts were the United States (37.0%), the European Union (34.2%), Japan (5.0%) and Chinese mainland (3.0%), indicating that the United States and the European Union are the main markets for screws and nuts in China, and the two exports together account for 71.2%. Exports from January to September this year totaled 2.69 billion US dollars, down 10.3% from the same period last year. However, according to the observation of China's import market share in the United States and the European Union, from January to August this year, China's screw and nut market share in the United States continued to rank first at 31.0%. Chinese mainland took the second place, accounting for 21.9%. In the EU import market, China ranks first with a market share of 26.0%, the United States ranks second with 15.9%, and Chinese mainland ranks third with 13.7%.

In order to enhance the international competitiveness of the industry, the Industrial Bureau of the Ministry of Economic Affairs promotes the "NICE upgrading and transformation plan for the screw and nut industry", which optimizes the industrial structure, expands high value-added products, raises the unit price of exports and stabilizes export growth from the four levels of niche products (Niche Product), smart equipment (Intelligent equipment), professional staff (Competent Workers) and green process (Eco-friendly process), so as to avoid the dilemma of price reduction competition.

▲ domestic screws and nuts occupy the first place in the import market share of the United States and Europe.