According to the information provided by the China Bearing Industry Association Information Department, China exported 4.15 billion sets of bearings in 2010, generating foreign exchange of 3.302 billion US dollars. Compared with the same period of last year, they increased by 53.65% and 63.6% respectively.
In the year, it has accumulatively imported 1.793 billion sets of bearings and US$3.809 billion in foreign exchange. Compared with the same period of last year, they increased by 30.94% and 34.38% respectively.
The import and export deficit is 5.07 billion U.S. dollars.
From the perspective of the composition of imported bearings, the import of thrust ball bearings continued to maintain a 2% increase (104.5% year-on-year increase), but the increase in the use of foreign exchange was not significant. With imports of spherical bearings outside the seat is still a downward trend, but the use of exchanges has increased by 107.47%.
From the perspective of the flow of imported bearings, China imported bearings from 91 countries and regions in the world in 2010. Among them, more than 10 million U.S. dollars were generated in 20 countries and regions, sharing 3.615 billion U.S. dollars, accounting for 94.93% of the total foreign exchange. Among them are mainly Japan and Germany.
Export Bearing Flow: In 2010, China exported bearings to 192 countries and regions in the world. Among them, 41 countries and regions with over US$10 million in foreign exchange earned US$3.147 billion in foreign exchange, accounting for 95.32% of all foreign exchange earned through exports. For some European countries and regions, the amount of foreign exchange earned through exports has increased significantly. Among them, exports to the United States have earned 457 million U.S. dollars, accounting for 13.84% of the total foreign exchange earnings. Followed by Japan, India, South Korea, Germany and so on.
Outer Bearings: Deep Groove Ball Bearings occupy the largest volume of exports. The largest increase was in cylindrical roller bearings (a 197.78% increase over the same period last year). Needle bearing exports and foreign exchange earnings continue to grow.
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