Rate of China Fastener Export Growth Slows
Rate of China Fastener Export Growth Slows
Jason Sandefur
The rate of growth for steel and copper fastener exports from China slowed in 2007, though the overall tonnage continued to climb, according to official figures from the Chinese government.
China fastener exports increased 24.2% to 2.59 million tons in 2007, down from the 37.3% growth rate recorded in 2006, Xinhua News Agency reports. The export value gained 37% to US$3.34 billion last year, slightly higher than the 33.1% increase in value during 2006.
During the final month of 2007 China exported 210,303 tons of steel and copper fasteners, with the shipment value pegged at $288.84 million.
According to government figures, China fastener exports grew 33.8% to 1.14 million tons in 2004, while exports growth reached 32.7% to 1.52 million tons in 2005. �2008 FastenerNews.com
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