Industry Focus

Fastener Trade Partners of
ASEAN Countries (2019-2022)
Note: All countries in the tables are ranked according to values in 2022

Over the past four years, the world has entered an era of restructuring economic entities, forming a global economic structure split into
two camps. Against this background, Europe, the United States and Japan have recently shifted the focus of their political and economic
collaboration to the South China Sea. In addition to India in South Asia, ASEAN as the world's fifth largest economy has become a hot
spot for economic and trade collaboration as well as foreign investment. As the competition in Southeast Asia and ASEAN is turning
white hot, what changes have occurred in the trade volume of local fasteners from 2019 to now? Let us dig in with this article.
This article begins with an overview of key economic indicators in ASEAN, followed by an analysis of fastener trade data for six of
the ASEAN countries, including Thailand, Malaysia, the Philippines, Indonesia, Vietnam, and Singapore. It should be noted that the datataken from ASEANstats is currently up-to-date until 2022, while the data taken from the Customs offices of several countries have been
updated until the first five months of 2023.

ASEAN Key Economic Indicators
Table 1. Basic ASEAN Indicators as of July 2023
Indicators

Unit

2019

2020

2021

2022

Total population

million

652.5

657.3

662.4

669.2

GDP at current prices

US$ billion

3,257.2

3,092.6

3,365.9

3,626.5

GDP per capita at current prices

US$4,992.1

4,704.8

5,081.3

5,419.1

International merchandise trade, total

US$ billion

2,816.4

2,669.9

3,346.8

3,847.0- Export

US$ billion

1,423.8

1,396.7

1,719.7

1,962.4- Import

US$ billion

1,392.6

1,273.1

1,627.1

1,884.6

Foreign direct investments inflow

US$ billion

166.1

119.8

212.4

224.2

China Fastener World no.69/2023(Source: ASEANstats)

To help fastener business owners evaluate
the overall market size of ASEAN, a tableof economic indicators for the region ispresented (see Table 1). Last yea r, thepopulation of ASEAN grew to 669.2 million,
GDP grew by 7.7% to US$3.6 trillion, GDPper capita grew by 6.6% to US$5,419, andtotal trade in all commodities grew by 15%
to US$3.8 trillion, of which total exports
grew by 14% to US$1.9 trillion, total imports
grew by 15% to US$1.8 trillion, and foreign
investment grew by 5.5% to US$224.2 billion.
Table 1 reveals that the ASEAN market
shrank only in 2020, the year of COVID
outbreak, but quickly achieved significant
growth after the outbreak, making ASEAN
an economy with strong momentum.

096 惠達雜誌

Fastener Trade Data of All ASEAN Countries
Next, we will look at ASEAN's overall fastener trade figures. Since the import andexport of fasteners from Myanmar, Cambodia, Laos and Brunei are much lower, weare not going to elaborate on them.
In terms of imports (Table 2), the value of fasteners imported by ASEAN from theworld grew by 4.8% to US$3.81 billion last year. Demand was the highest in Thailand,
where import fell by 3.6% to US$1.1 billion. The second highest was Vietnam, with
import falling 3.2% to US$730 million. The third highest was Malaysia, with importgrowing by 17.2% to US$612 million. Indonesia's import grew by 22.7% to US$589
million. Singapore's import grew by 10.2% to US$481 million. The Philippines
decreased by 2% to US$199 million. Thailand and Vietnam experienced small
declines, while Malaysia, Indonesia and Singapore all achieved double-digit growth.
Comparing 2022 and 2019, most of the ASEAN countries, with the exception of
Myanmar, Laos and Brunei, have already surpassed their pre-pandemic levels ofimports after the end of the pandemic.

Industry Focus
Table 2. ASEAN Fastener Import Value in USD from the World (2019-2022)
Region/Country

2019

2020

2021

2022

ASEAN

3,207,761,736

2,858,893,240

3,638,574,201

3,816,360,815

Thailand

1,026,531,851

882,213,198

1,143,210,169

1,101,731,837

Vietnam

575,662,688

622,577,713

755,585,521

730,771,963

Malaysia394,805,239

383,835,503

522,623,686

612,528,465

Indonesia

538,443,339

333,024,395

479,995,735

589,098,637

Singapore

410,102,177

361,285,084

437,315,140

481,982,411

Philippines

162,043,190

149,195,700

203,470,106

199,277,299

Cambodia

43,239,832

52,906,760

53,962,486

56,113,220

Myanmar31,044,053

39,852,517

24,017,891

23,261,483

Laos

13,760,349

18,119,170

11,336,715

11,861,561

Brunei12,129,019

15,883,199

7,056,752

9,733,939(Source: ASEANstats)

Table 3. ASEAN Fastener Export Value in USD to the World (2019-2022)
Region/Country

2019

2020

2021

2022

ASEAN

1,843,250,322

1,648,062,422

2,076,860,565

2,344,670,380

Vietnam

454,986,133

453,104,662

537,930,184

680,892,576

Thailand546,689,704

440,945,411

604,421,131

672,558,565

Singapore

316,832,665

296,899,054

328,210,803

368,513,207

Malaysia

297,999,446

270,440,947

363,752,804

360,689,811

Philippines

149,038,317

109,300,591

142,690,230

140,289,828

Indonesia

77,200,806

76,566,978

97,285,836

116,674,563

Myanmar167,884

580,619

1,448,809

4,660,916

Cambodia

173,983

80,125634,986

288,170

Brunei

160,945

38,404484,955

102,745

Laos

440

105,632

828

N/A(Source: ASEANstats)

ThailandChina Fastener World no.69/2023

Table 4. Thai Fastener Import Value in USD from the World
Ranking

Partners

0

World

2023
Jan.-May
880,783,679 754,378,023 995,017,053 1,121,493,183 434,137,791

1

Japan

397,112,083 305,938,317 419,416,883

433,678,016 161,679,498

2

China

140,918,428 146,806,836 196,669,836

260,840,107

99,632,299

3Taiwan74,003,156

66,886,005

90,114,592

105,284,171

40,172,690

4

Malaysia

63,794,856

63,923,213

68,000,590

69,482,984

21,577,450

5U.S.A.

43,267,915

36,759,240

40,434,303

64,282,501 31,004,435

2019

2020

2021

2022

6

Germany

38,953,536

28,115,356

40,084,139

43,844,063

18,300,345

7

S. Korea

18,448,201

14,895,608

18,428,107

18,061,432

7,744,224

8

Italy

12,542,136

11,353,060

14,101,603

17,916,667

6,748,248

9Singapore

14,267,168

16,444,905

17,340,151

16,655,171

5,557,921

10

Vietnam

14,208,407

12,212,852

16,009,191

14,767,765

4,989,014(Source: Thai Customs)

098 惠達雜誌In terms of exports (Table 3),
the value of fasteners exported
from ASEAN to the world grewby 12 . 8% t o US $2 . 3 4 bi l l io nlast yea r. T he highest dema nd
was from Vietnam, with exportg rowi ng by 26.5% to US$680
million. The second highest was
Thailand, with export growing
by 11.2% to US$672 million. The
third highest was Singapore, with
expor t increasing by 12.2% to
US$368 million. Malaysia's export
decreased by 0.8% to US$360
million. The Philippines' export
de creased by 1.6% to US$14 0
million. Indonesia's export grewby 19.9% t o US$116 m i l l ion .
M a laysia a nd t he P h i l ip pi nes
experienced small declines, while
Thailand, Singapore and Indonesia
all achieved double-digit growth.
Comparing 2022 and 2019, mostof the ASEAN countries, with the
exception of the Philippines andBrunei, have already surpassed
their pre-pandemic levels of exports
after the end of the pandemic.

I n 2 0 22 , T h a i l a n d's g lo b a limports of fasteners (Table 4) grewby 12.7%, surpassing the 1 billion
mark to reach US$1.12 billion, andreached US$434 million in the first
five months of 2023. Thailand's
top five sources of imports in 2022
were Japan (US$433 million, up
3.4%), China (US$260 million, up
32.6%), Taiwan (US$105 million,
up 16.8%), Malaysia (US$69.48
million, up 2.1%), and the United
St at es ( US$6 4.28 m i l l ion , up
58.9%). Wit h t he exception of
S. Korea, Thailand's imports offasteners from its top 10 sources are
now higher than they were beforet he outbrea k. T he i ncrease i nThailand's demand for Chinese andU.S.-made fasteners is noteworthy.
T ha i la nd's globa l exp or t offasteners (Table 5) jumped 30%
to US$676 million last year andreached US$258 million in the first
five months of this year. Thailand's
top five expor t destinations in
2 0 2 2 we r e t h e Un it e d St a t e s(US$148 million, exceeding theIndustry Focus
billion ma rk, up 34.8%), India(US$64.85 million, up 34.8%),
Japan (US$47.91 million, up 12%),Indonesia (US$45.14 million, down
4.2%) and Germany (US$43.45
million, up 32.8%). T haila nd's
exports of fasteners to the top 10
destinations are all higher thanthey were before the outbreak. In
addition to the surge in demand for
U.S. fasteners, Thailand's export offasteners to the U.S. also increased
significantly.

Malaysia

China Fastener World no.69/2023

Ma laysia's globa l i mpor t offasteners (Table 6) grew by 22.7%
to US$558 million last year andreached US$218 million in the first
five months of this year. Malaysia's
top five sou rces of impor ts i n2022 were China (US$191 million,
up 12.3%), Singapore (US$131
million, breaking the 100 million
mark and surging 73.1%), Japan(US$61.32 million, up 6.3%), theUnited States (US$42.26 million,
up 25.4%), and Taiwan (US$29.81
million, down 4.2%). Malaysia's
imports of fasteners from the top 10
countries of origin are now higher
than they were before the outbreak.
The notable increase in Malaysia's
dema nd for fasteners made i nSingapore and the United States isnoteworthy.
Ma laysia's globa l exp or t offasteners (Table 7) grew by 3.5%
to US$327 million last year andreached US$115 million in the first
five months of this year. Thailand's
top five export destinations in 2022
were Singapore (US$57.77 million,
down 10.5%), Thailand (US$51.71
million, down 32%), Ger ma ny(US$40.58 million, up 17.9%), theUnited States (US$32.67 million,
up 70.8%) and Turkey (US$15.2
m i l l i o n , u p 8 . 5%) . W i t h t h e
exception of Thailand and Japan,
Malaysia's exports of fasteners to
the top 10 destinations are now
h ig he r t h a n t hey we r e b efor et he outbrea k. T he dema nd forfasteners exported from Malaysia
to Singapore and Thailand declined
significantly, while demand forfasteners exported to the UnitedStates increased significantly.

100

惠達雜誌

Table 5. Thai Fastener Export Value in USD to the World

0

World

2023
Jan.-May
462,515,330 372,182,982 520,327,859 676,756,996 258,632,211

1

U.S.A.

74,074,999

64,387,668

89,439,600 148,092,289

40,699,966

2

India

40,119,088

33,534,830

48,093,526

64,858,259

28,646,141

3

Japan

37,929,043

34,128,489

42,781,259

47,917,444

14,368,436

Ranking

Partners

2019

2020

2021

2022

4

Indonesia

37,688,833

20,853,562

47,146,695

45,146,524

34,788,573

5

Germany

35,896,513

26,624,449

32,708,515

43,453,092

21,426,562

6

Italy

14,097,972

10,963,444

15,536,498

29,944,534

8,026,763

7

Argentina

18,973,832

14,800,694

23,582,856

28,850,181

12,397,038

8

S. Africa

19,870,262

15,598,526

24,639,253

21,656,871

11,675,309

9

Netherlands

14,611,731

11,397,254

14,074,973

21,290,604

9,935,439

10Vietnam

16,251,447

14,065,676

16,401,453

20,853,097

5,283,021(Source: Thai Customs)

Table 6. Malaysian Fastener Import Value in USD from the World
Ranking

Partners

0

World

2023
Jan.-May
343,760,611 337,504,194 454,991,907 558,395,606 218,496,417

1

China

103,857,258

116,907,957 170,441,060

191,539,472

70,196,324

2

Singapore

44,783,727

44,127,563

75,753,981

131,174,148

46,351,452

3

Japan

52,756,891

46,904,375

57,651,459

61,326,478

26,737,553

2019

2020

2021

2022

4

U.S.A.

30,621,954

27,815,264

33,683,829

42,267,126

17,793,156

5

Taiwan24,665,538

27,422,454

31,134,330

29,817,517

8,370,023

6

Thailand

15,150,849

14,808,700

17,645,837

20,976,613

8,288,956

7

Germany

12,246,234

9,942,249

13,336,002

14,905,984

7,526,580

8

Hong Kong

6,042,121

7,122,881

9,412,066

11,634,206

5,419,140

9

Indonesia

7,496,917

6,492,001

6,738,861

11,202,120

6,072,497

10

S. Korea

9,632,470

8,089,795

10,797,915

10,090,088

3,875,361(Source: Malaysian Customs)

Table 7. Malaysian Fastener Export Value in USD to the World
Ranking

Partners0World259,393,608 237,924,958

316,511,420 327,779,916

2023
Jan.-May
115,429,728

2019

2020

2021

2022

1

Singapore

45,336,801

35,275,595

64,600,452

57,774,788

25,188,480

2

Thailand56,318,526

58,232,994

76,151,994

51,716,649

14,830,816

3

Germany

31,900,194

26,865,580

34,396,416

40,586,886

10,477,082

4

U.S.A.

15,713,646

14,282,702

19,124,997

32,673,538

10,961,512

5Turkey4,658,646

9,691,900

14,012,979

15,205,751

6,656,743

6

Canada4,545,512

7,623,945

9,057,555

12,050,677

2,811,896

7

Netherlands

10,169,488

7,469,158

10,271,017

12,046,209

4,785,230

8

Sweden6,559,846

5,257,195

8,278,649

11,114,540

2,309,584

9

Italy

8,738,910

6,360,977

7,799,385

10,780,125

3,944,070

10

Japan

11,090,715

7,912,050

7,669,930

9,205,713

3,020,174(Source: Malaysian Customs)

Industry Focus
Philippines
Philippine global imports of fasteners (Table 8) grew by 4.3% to US$176 million last year and reached US$50.28 million in the first
five months of this year. Philippine top five sources of imports in 2022 were China (US$52.79 million, up 5.2%), Japan (US$44.04
million, down 2.6%), Singapore (US$21.20 million, up 56.1%), Taiwan (US$10.23 million, down 14.8%), and Thailand (US$6.65 million,
up 10.2%). With the exception of Taiwan and Hong Kong, Philippine imports of fasteners from the top 10 sources are now higher thanthey were before the outbreak. The notable increase in Philippine demand for Singapore-made fasteners is noteworthy, while the demand
for Taiwan-made fasteners declined significantly.
Philippine global exports of fasteners (Table 9) grew 26.3% to US$180 million last year and reached US$17.59 million in the first fivemonths of this year. Philippine top five export destinations in 2022 were Japan (US$126 million, up 40.6%), the United States (US$13.93
million, down 2.7%), Germany (US$8.48 million, down 17.8%), South Korea (US$8.1 million, down 2.9%), and France (US$4.56
million, an 18-fold jump). With the exception of Germany and Italy, Philippine exports of fasteners to the top 10 destinations are now
higher than they were before the outbreak. Over the past four years, the value of fasteners exported from the Philippines has fluctuatedgreatly, especially the exports to France, the Netherlands, and Switzerland. Notably, the value of fasteners exported from the Philippines
to Italy declined for the fourth consecutive year.

Table 8. Philippine Fastener Import Value in USD from the World (Quantity in KG)
2019

2020

2021

2022

Q1 2023

Ranking

Regions0World

49,760,793 142,462,522 40,509,147 126,555,521 52,680,644 169,507,373 58,675,652 176,830,099 14,590,232 50,284,912

1

China

35,118,703 42,531,255 29,440,414 34,611,995 40,259,565 50,181,602 45,394,606 52,791,737 11,200,341 15,453,363

2

Japan

3,657,426

Quantity

Value

36,134,117

Quantity

Value

2,864,478 33,731,577

Quantity

Value

3,726,672 45,238,195

Quantity

Value

3,899,764 44,048,890

Quantity

Value

1,008,179 13,140,478

850,878 13,576,514

990,883 21,205,420

171,127

3,131,049

3,244,458

9,957,463

3,294,196 12,012,270

2,692,870 10,231,131

635,793

2,406,456

5,308,554

845,592

4,717,497

706,184

6,031,059

727,914

6,652,019

155,246

1,316,634

1,161,793

3,533,002

816,6652,548,547

1,307,527

4,899,910

2,141,380

5,833,649

815,573

2,107,705

U.S.A.

135,422

3,943,471

113,254

4,038,340

139,441

5,029,198

184,904

5,416,524

33,6762,804,248

8

Malaysia

315,902

1,708,294

269,478

2,517,092

345,722

6,369,320

225,367

4,753,182

120,919

2,941,395

9

S. Korea

1,077,976

3,773,438

736,068

3,443,050

684,965

4,234,884

744,102

4,381,791

86,438786,302

10

Hong Kong

315,951

3,917,552

210,964

2,654,599

303,384

3,942,275

280,149

3,752,471

53,654

1,087,124

3

Singapore

1,213,605 12,973,903

4

Taiwan4,110,774 12,779,852

5Thailand

665,113

6

Vietnam

7

830,918 10,864,810(Source: Philippine Customs)

Table 9. Philippine Fastener Export Value in USD to the World (Quantity in KG)
2019

2020

2021

2022

Q1 2023

Regions0World36,129,960 138,115,316 34,016,318 107,041,505 46,643,928 142,467,784 60,893,520 180,060,127

1

Japan

23,367,600 98,246,433 23,618,090 75,300,195 32,429,115

2

U.S.A.

4,795,340 13,200,346

4,372,729

9,322,081

3

Germany

2,633,194

8,952,672

2,198,532

4

S. Korea

938,135

2,984,255

5France62,3296

Taiwan1,121,284

7

Netherlands

191,503628,9388

Italy

1,372,861

4,166,490

9

China

141,283

545,789

10

Switzerland

86,425283,951

China Fastener World no.69/2023

Ranking

Quantity

Value

Quantity

Value

Quantity

Value

Quantity

Value

Quantity

Value

5,756,872 17,591,583

90,176,410 44,280,584 126,866,913

2,196,909

6,124,135

5,726,535 14,326,120

6,016,982 13,932,608

2,238,373

4,318,571

7,757,829

2,730,312 10,332,144

1,941,878

8,487,667

345,052

1,575,713

1,384,304

4,615,376

1,090,599

8,347,455

426,311

8,100,916

66,791

1,147,516

195,587

75,694

242,706

107,885

232,515

2,362,339

4,561,051

439,917886,968

3,277,946

482,271

1,271,219

2,068,938

5,581,337

1,691,215

4,549,649

182,441808,599

195,172

705,035

605,4902,756,948

307,5622,475,032

64,924401,030

701,800

2,449,484

743,257

2,415,917

326,579

1,600,284

64,072

319,646

140,177

1,247,051

55,7902,032,188

449,795

1,197,436

25,131

921,480

44,826

165,822

128,298

548,571

186,824

1,140,808

3,308

22,955(Source: Philippine Customs)

102

惠達雜誌

Industry Focus
Indonesia
Indonesia's global imports of fasteners(Table 10) grew by 22.7% to USD 589
million last year. Indonesia's top five sourcesof imports in 2022 were Japan (US$233
million, up 12.6%), China (US$125 million,
up 33.8%), Thailand (US$45.33 million,
up 19.3%), Australia (US$31.63 million, up
9.4%), and South Korea (US$28.32 million,
surging 124%). With the exception of Italy,
Indonesia's imports of fasteners from the top
10 sources are now higher than they were
before the outbreak. The notable increase inIndonesia's demand for fasteners made in S.
Korea and China is noteworthy.
Indonesia's global exports of fasteners( Table 11) g rew by 20% la st yea r to
US$116 m i l l ion. I ndonesia's top f ive
export destinations in 2022 were Germany(US$29.86 million, down 8.7%), Malaysia(US$14.31 million, up 424%), Thailand( US$11.03 m i l l ion , up 27.2%), Japa n( US $ 8 .7 7 m i l l i o n , d ow n 3.7%), a n dSingapore (US$7.51 million, a 147-foldjump). With the exception of Japan, theNetherlands and Sweden, Indonesia's exports
of fasteners to the top 10 destinations
are now higher than they were before theoutbreak. India's exports of fasteners to the
U.S. increased eightfold comparing pre- andpost-pandemic levels, and the demand forfasteners from Malaysia and Singapore alsosoared last year.

China Fastener World no.69/2023

VietnamVietnam's global imports of fasteners(Table 12) declined by 3.2% to US$730
million last year. Vietnam's top five sourcesof imports in 2022 were China (US$358
million, down 6%), Japan (US$120 million,
dow n 4.4%), Sout h Korea ( US$88.26
million, down 3.2%), Taiwan (US$58.68
million, up 1.9%), and Thailand (US$22.6
million, down 3.7%). Vietnam's imports offasteners from five of the top ten sources(Japa n , T h a i la nd , t he Un it e d St at e s,
Malaysia, and Singapore) are lower than thelevel before the outbreak. The momentum of
its imports is not stable enough.
Vietnam's global exports of fasteners(Table 13) grew by 26.5% to USD 681
million last year. Vietnam's top five export
destinations in 2022 were Germany (US$134
million, up 56.2%), the US (US$118 million,
up 28.3%), Japan (US$74.71 million, up
4.1%), the Netherlands (US$70.05 million,
up 24.6%) and Canada (US$32.99 million,
up 18.9%). With the exception of the UK and

Table 10. Indonesian Fastener Import Value in USD from the World
Ranking

Partner

2019

2020

2021

2022

0

World

538,489,026

333,029,397

480,007,152

589,114,916

1

Japan

239,084,197

130,664,891

207,519,015

233,857,850

2

China

96,087,245

65,685,091

93,740,745

125,451,426

3Thailand

43,813,864

24,546,582

37,986,452

45,334,946

4Australia

25,686,654

21,916,670

28,904,744

31,632,248

5

S. Korea

6,229,682

5,577,276

12,626,938

28,324,107

6

U.S.A.

20,843,544

16,802,681

19,198,881

28,107,449

7Singapore

42,869,761

20,339,526

15,510,664

22,648,860

8Taiwan19,992,646

14,971,063

20,491,123

22,176,263

9

Germany

6,212,248

5,703,608

5,744,951

8,875,660

10

Italy

3,857,666

5,955,625

9,701,154

8,489,241(Source: ASEANstats)

Table 11. Indonesian Fastener Export Value in USD to the World
Ranking

Partner

2019

2020

2021

2022

0

World

78,290,093

76,796,519

97,491,600

116,995,286

1

Germany

20,194,818

25,643,762

32,717,344

29,866,191

2

Malaysia

4,483,210

1,381,208

2,728,218

14,316,855

3

Thailand

8,656,375

8,738,046

8,672,907

11,034,561

4

Japan

9,453,780

6,592,662

9,122,182

8,777,451

5Singapore

1,677,193

2,447,939

3,032,210

7,519,408

6

U.S.A.

557,633

1,351,198

1,234,253

5,275,729

7

Netherlands

4,872,594

2,939,114

4,354,421

4,046,021

8

India

1,852,708

3,170,169

4,356,036

3,923,396

9Vietnam2,180,138

1,849,555

2,478,545

3,547,051

10

Sweden4,022,590

5,831,399

6,203,203

2,782,623(Source: ASEANstats)

Table 12. Vietnamese Fastener Import Value in USD from the World
Ranking

Partner

2019

2020

2021

2022

0

World

575,720,669

622,620,393

755,706,424

730,946,356

1

China

188,792,920

280,453,318

381,262,778

358,228,617

2

Japan

152,947,003

120,239,419

125,624,596

120,054,080

3

S. Korea

80,572,923

76,652,376

91,253,107

88,269,358

4

Taiwan48,601,552

50,705,900

57,541,082

58,688,584

5Thailand

23,089,325

22,223,549

23,477,252

22,605,405

6

U.S.A.

23,263,119

17,696,653

18,417,782

21,101,251

7

Germany

10,899,121

9,622,975

12,403,709

14,543,664

8

Italy

6,470,011

8,700,462

7,197,138

7,248,933

9

Malaysia

6,621,888

5,129,969

7,562,221

5,196,844

10

Singapore

4,099,254

3,524,449

3,624,919

3,976,659(Source: ASEANstats)

104

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Industry Focus
Table 13. Vietnamese Fastener Export Value in USD to the World
Ranking

Partner

2019

2020

2021

2022

0

World

455,313,287

453,786,102

538,209,422

681,261,108

1Germany

73,807,148

66,334,608

86,090,237

134,503,498

2

U.S.A.

59,015,220

76,036,817

92,571,057

118,805,211

3

Japan

57,146,963

61,506,583

71,728,853

74,711,559

4

Netherlands

47,743,899

53,913,428

56,177,121

70,052,381

2

U.S.A.

104,990,866

80,463,008

90,274,051

102,203,988

3Malaysia

53,704,611

41,208,291

56,339,165

64,762,173

Ranking

Partner

2019

2020

2021

2022

0

World

318,005,941

297,311,431

328,682,198

368,937,580

1

Malaysia

75,102,075

73,797,777

80,419,562

88,787,895

2

Indonesia

57,141,956

56,031,074

68,148,618

68,993,806

3

India

21,771,391

14,273,091

19,239,050

22,813,761

4Thailand

17,314,620

16,930,913

15,289,404

21,937,722

5

U.S.A.

12,860,418

9,833,482

11,885,134

17,900,104

6Philippines

19,705,511

13,695,542

20,394,707

16,633,764

Thailand, Vietnam's exports of fasteners to
the top 10 destinations are now higher thanthey were before the outbreak. Vietnam's
exports of fasteners to Germany showed thelargest increase.

Singapore

Singapore's global imports of fasteners(Table 14) grew by 10.2% to US$482
million last yea r. Singapore's top five5
Canada17,591,333
25,025,588
27,745,790
32,992,195
sources of imports in 2022 were China(US$123 million, up 5.7%), the United
6
Poland20,440,253
18,471,080
23,654,472
30,214,485
States (US$102 million, up 13.2%), Malaysia
7
Italy
18,904,355
14,237,841
15,707,009
23,070,713(US$64.76 million, up 14.9%), Taiwan
8
Belgium
16,288,917
11,832,121
11,982,438
21,546,958( US$32 .41 m i l l ion , dow n 8.8%), a ndIndonesia (US$27.28 million, up 110%).
9
UK
22,118,224
15,576,740
18,684,529
18,018,226
With the exception of the United States,
10
Thailand
16,972,781
15,410,095
17,857,527
15,395,914
Singapore's imports of fasteners from its top(Source: ASEANstats) 10 sources are now higher than they were
before the outbreak. The notable increase
Table 14. Singaporean Fastener Import Value in USD from the World in Singapore's demand for Indonesian-madefasteners is noteworthy, while exports ofRanking
Partner
2019
2020
2021
2022
fasteners to China and Liechtenstein grew
0World
410,125,237
361,286,850
437,315,926 482,006,705 considerably comparing the pre- and post1
China
89,433,958
74,725,063
116,358,059 123,035,063 outbreak levels.

China Fastener World no.69/2023

Singapore's global exports of fasteners(Table 15) grew by 12.2% to US$368
million last yea r. Singapore's top five
4
Taiwan32,318,236
30,535,128
35,549,134
32,414,201 export destinations in 2022 were Malaysia
5Indonesia
18,622,630
24,874,082
12,964,858
27,281,616 (US$88.78 million, up 10.47%), Indonesia( US $ 6 8 .9 9 m i l l i o n , u p 1. 2%), I n d i a6Japan
14,649,939
16,028,550
22,173,995
19,223,600 (US$22.81 million, up 18.5%), Thailand
7
Germany
13,537,786
16,100,013
16,070,990
13,673,671 (US$21.93 million, up 43.4%) and the United
8
Liechtenstein
7,204,633
6,846,791
9,904,637
12,391,743 States (US$17.90 million, up 50.6%). With
the exception of the Philippines and China,
9
Italy
7,919,431
6,942,657
11,099,526
11,835,762 Singapore's exports of fasteners to the top 10
10
Thailand
9,280,835
9,971,432
13,125,604
11,179,375 destinations have already exceeded their preoutbreak levels. Among them, Singapore's(Source: ASEANstats)demand for fasteners from the United States
and Thailand increased significantly.
Table 15. Singaporean Fastener Export Value in USD to the World

Era of Restructuring
Economic Entities
ASEAN Fastener Trade
Momentum is Strong andPromising

ASEAN fastener imports and exports
have been on an upward trend over the
past four years, generally in line with the7Germany
11,922,140
10,368,510
6,813,277
15,344,515"hot spot" trend in ASEAN. Although8
China
19,904,633
14,738,510
18,192,974
14,391,587
the momentum of Vietnam remains to be
seen and the volumes of fastener trade in
9Hong Kong
7,309,227
7,021,775
7,678,390
13,509,677
Myanmar, Cambodia, Laos and Brunei are
10
Australia
9,544,439
9,383,580
11,824,396
11,433,059
still low, the growth momentum of the other(Source: ASEANstats) ASEAN countries is obvious, which can bea valuable region for fastener manufacturers
Article by Dean Tseng, Fastener World, Copyright owned by Fastener World
to compete for business opportunities.
Updated on July 11, 2023; Data in descending order according to 2022 values;
Currency unit in USD

106惠達雜誌