U.S. Fastener Exports & Imports Slow
10/9/2014 12:48:00 AM
FEATURES
Chart courtesy Zepol
U.S. fastener exports and imports declined in August.
After growing 3% in July, U.S. exports of iron and steel fasteners (HTS Code: 7318) fell 4% to $321.9 million in August, according to data released by the U.S. Census Bureau and analyzed by GlobalFastenerNews.com.
The top five consumers of U.S. fastener exports in August were Mexico (down 8.2% month-to-month to $108.1 million); Canada (down 1.2% to $89.4 million); the UK (down 2.2% to $13.1 million); Brazil (up 5.8% to $12.8 million; and China (down 3.9% to $12.4 million).
Imports of iron and steel fasteners (HTS Code: 7318) to the U.S. also dropped in August, falling 2% to $423.2 million despite growth from Germany and Japan, Zepol reports.
The top five countries importing fasteners to the U.S. during August were Taiwan (down 3.3% month-to-month to $127.8 million); China (down 6.4% to $96.7 million); Japan (up 0.8% to $58.4 million); Germany (up 18.6% to $36.9 million); and Canada (down 7.8% to $21.3 million), according to Zepol.
In the first six months of 2014, U.S. fastener exports and imports achieved solid growth, with exports climbing 6.4% to $1.9 billion and imports gaining 6.9% to $2.39 billion.
In 2013 U.S. fastener exports grew 9.1% to $3.6 billion, while 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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