U.S. Fastener Activity Picks Up Steam
FEATURE
Courtesy ZEPOL
U.S. fastener exports and imports increased in January.
After two months of decline, U.S. fastener exports achieved double-digit growth in January. U.S. exports of iron and steel fasteners (HTS Code: 7318) increased 12% to $302.2 million in the opening month of 2014, Zepol reports.
The top five consumers of U.S. fastener exports in January were Mexico (up 28.3% month-to-month to $98.7 million); Canada (up 17.1% to $87.1 million); the UK (up 21% to $14.2 million); China (down 0.2% to $10.6 million); and Germany at $10.5 million, according toZepol.
In 2013 U.S. fastener exports grew 9.1% to $3.6 billion, with the pace of growth quickened in the second half of the year from its midpoint pace of 6.3%.
Imports of iron and steel fasteners (HTS Code: 7318) to the U.S. also increased in January, gaining 10% to $401.8 million, according to data released by the U.S. Census Bureau.
The top five countries importing fasteners to the U.S. during January were Taiwan (up 20.3% month-to-month to $139.4 million); China (up 16% to $96.4 million); Japan (down 5% to $49.3 million); Germany (up 17% to $25.6 million); and Canada (up slightly to $18.8 million).
In 2013 fastener imports to the U.S. fell 2.2% to $4.49 billion.
This data was derived from Zepol’s trade intelligence tool, TradeView™, using U.S. import and export trade data released by the U.S. Census Bureau in the Merchandise Trade dataset.
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