Strong export nation

Taiwanese manufacturers of hardware products continue to receive sterling support from their Ministry of Economic Affairs in their export endeavours. If the trend in the last few years is anything to go by, it appears that the strategy of state and economy is paying off, for despite an economically challenging environment, Taiwan's hand tool industry has grown consistently since 2007. The USA and Europe continue to present the largest markets for Taiwanese hand tools, followed by China, Germany and Japan respectively. Between 2007 and 2016, the export of hand tools increased by a CAGR (Compound Annual Growth Rate) of 0.37 per cent, reaching USD 3.4 bn by the end of 2017.
The Taiwanese hand tool manufacturers rank a global first in sockets and associated components exports, second in hand tools exports and third in garden tools exports. The strength of the small country in this sector is also rooted in the structure of the industry. 70 per cent of Taiwan's 2 300 hand tool manufacturers are located in Central Taiwan.
According to the sector, this results in a collaborative and fast-responding supply chain for the entire industry, with seamless integration between central and satellite factories. The flexibility of the supply chain enables Taiwanese hand tool companies to meet multiple requirements in manufacturing, such as moulds, heat treatments, surface treatments, plating and packaging. Taiwanese hand tool manufacturers are taking full advantage of the industry's high level of integration and its IT credentials.
A visible expression of the collaboration between state and economy was on display at the International Hardware Fair in Cologne. The Taiwan Excellence Pavilion in hall 2.2 showcased 13 selected manufacturers with their products, which have received the Taiwan Excellence Award. The selection is based on the distinct criteria of research and development, quality, design, and marketing.

King Slide Works, for example, exhibited a silent self-closing ball bearing slide with full extension and light opening force.
The Justime Yes product family from Sheng Tai Brassware featured a hose bib designed with a Y-shape to achieve best outlet with least material and smoothest operation. It can connect hose stably without using clips for garden hose or…