Industry Focus

2022 Fastener Trade
Statistics of EU
HS 7318 Iron and steel screws, bolts, nuts, washers, etc.

in descending order according to volumes of 2022

ImportPartner

2020 (Euro)

2021 (Euro)

2022 (Euro)

2020 (kg)2021 (kg)2022 (kg)EU27

4,703,428,968

5,988,643,217

8,062,651,447

1,560,900,548

1,853,675,002

2,032,115,658

1

China

1,124,834,668

1,685,581,227

2,210,047,871

643,166,410

784,373,858

787,031,590

2

Taiwan1,012,097,510

1,304,539,923

1,906,960,986

373,176,999

432,392,932

502,842,100

3Turkey250,113,831

363,799,836

562,403,729

78,892,138

116,211,570

147,794,916

4Vietnam

193,789,700

220,459,099

404,967,185

99,433,492

98,578,051

133,270,667

5

India

187,415,500

277,337,771

411,086,901

67,732,375

97,778,212

125,971,724

Rank

6

Thailand

69,203,789

83,650,642

142,135,532

42,867,110

46,648,841

64,295,920

7South Korea

145,461,539

179,056,244

214,855,946

30,802,225

37,193,166

40,109,675

8

Malaysia

64,884,737

74,328,333

117,280,008

32,364,162

33,575,378

37,905,366

9U. K.

346,415,222

305,093,566

348,144,153

54,485,016

35,233,191

32,033,067

10

Switzerland

362,345,419

413,955,872

449,724,326

25,686,806

29,517,676

30,054,604

The EU imported a total of about 2.03 million tons of fasteners from the world in 2022, with China and Taiwan
as the main import sources, accounting for more than 60% of the total. In addition, Turkey, Vietnam and India werealso very important import partners for the EU, with individual imports of more than 100,000 tons. In 2022, only UKin the top 10 sources of imports showed a slight decline, while all the other sources were on a growth trend. In termsof value, the EU imported a total of about EUR8.06 billion from the world in 2022, up 25.8% from EUR5.98 billion
in 2021, with the top 10 sources showing significant year-on-year growth. The data also shows that the EU is highly
dependent on the supply chain of fasteners from Asia.

ExportRank

Partner

2020 (Euro)

2021 (Euro)

2022 (Euro)

2020 (kg)2021 (kg)2022 (kg)EU27

4,317,739,262

4,893,847,505

5,356,393,152

569,476,149

632,737,789

594,244,201

1

United States734,509,127

851,680,614

991,916,924

79,202,141

98,224,763

92,401,145

2

China

855,890,985

889,621,304

864,687,914

96,393,983

98,323,894

90,563,141

3

U. K.

464,303,040

532,346,729

579,686,814

71,514,835

77,777,339

73,031,141

4

Switzerland

276,058,679

328,785,939

380,811,386

36,737,157

42,586,785

43,577,546

5

Mexico192,112,821

230,600,829

275,522,527

27,686,516

33,638,580

38,080,004

6

Turkey190,304,362

211,821,879

267,336,627

29,857,349

31,281,788

35,403,634

7Brazil146,446,454

182,719,905

214,324,486

22,569,171

29,992,842

31,361,223

8

India

99,628,133

146,247,930

170,676,392

13,304,756

19,794,204

20,040,117

9Norway122,524,195

125,111,263

146,971,094

21,430,498

19,197,941

17,587,184

10

Morocco78,485,181

96,349,528

112,946,849

9,863,875

14,512,843

15,151,479

E xpor ts of fasteners from the EU grew from 569,0 0 0 tons in 2020 to 632,0 0 0 tons in 2021, and then down
to 594,000 tons in 2022. The U. S., China and the U.K . ranked respec tively as its largest to third largest expor t
destinations, with the three countries alone accounting for more than 40% of the total. Exports to Switzerland,Mexico, Turkey and Brazil also reached at least 30,000 tons each. However, the data show a decreasing trend in thevolume of fasteners exported from the EU to the US, China and the UK in 2022 on a year-on-year basis, while theportion exported to Switzerland, Mexico, Turkey, Brazil, India and Morocco all showed growth. In terms of value,the EU's fastener exports grew from 4.31 billion euros in 2021 to 5.35 billion euros in 2022, with all of the top 10
exporters showing growth in 2022 except for China, which showed a year-over-year decrease.
Article by: Gang Hao Chang, Vice Editor-in-Chief of Fastener World
Copyright owned by Fastener World

Fastener World no.201/2023

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