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Fastener exports will show significant growth
The EU has long been China's primary market for fastener exports, making up roughly a third of the total. However, in 2013, the European debt crisis caused a slowdown in export growth. In the first half of that year, fastener exports from Jiaxing to the EU dropped by 24.2% compared to the same period the previous year. By January to November 2013, China’s top fastener export destinations in the EU were Germany, the UK, and Italy, with shipments reaching 58,000 tons, 36,000 tons, and 32,000 tons respectively.
Looking ahead, as the eurozone economy gradually recovers, it is anticipated that the share of fastener exports to the EU will rise significantly in 2014. The European market continues to offer unique demand and benefits from a well-established trading environment, which makes it an attractive and enduring destination for many Chinese fastener exporters. Despite the emergence of other markets, the EU still holds a special place due to its stability, purchasing power, and long-term business relationships. As companies adapt to changing global conditions, maintaining a strong presence in Europe remains a strategic priority for many Chinese manufacturers in the fastener industry.