China's bearing import and export deficit hit a record high

In 2009, China exported a total of 2.698 billion sets of bearings, earning US$2.02 billion, down 20.4% and 32.04% respectively, importing 1.369 billion sets of bearings and using US$2.834 billion, down 13.29% and 5.23% respectively over the previous year. %, the import and export deficit of 814 million US dollars, a record high.
From the perspective of the composition of export products, due to the impact of the global financial crisis, the foreign exchange earning of tapered roller bearings and bearing parts decreased by 45.91% and 42.53%, respectively, spherical roller bearings, other rolling bearings and rolling elements decreased by 37.88% and 36.30 respectively. % and 34.74%, needle bearing decreased by 29.76%, ball bearing accounted for 47% of the total export volume decreased by 24.16%, and the smallest reduction was cylindrical roller bearing, the decline was 3.86%.
In 2009, China exported bearings to 181 countries and regions in the world. Among them, there are 35 countries and regions with more than 10 million US dollars. The export earnings of these 35 countries and regions account for 92.7% of the total foreign exchange earned by China's bearings. In 2009, China’s exports to Asian countries and regions increased significantly, such as Vietnam, Pakistan, and Bangladesh, which increased by 67.44%, 43.93%, and 42.85%, respectively. The top ten of these 35 countries and regions are: the United States, Japan, South Korea, India, Germany, Hong Kong, Italy, Singapore, United Arab Emirates, France.
In 2009, China imported bearings from 82 countries and regions in the world, with a total import of 1.369 billion sets of bearings and a use of 2.834 billion US dollars. From the composition point of view, ball bearings also occupy the first place in the total number of imports, but from the point of view of the use of foreign exchange, the use of tapered roller bearings and cylindrical roller bearings has increased significantly, indicating that China's policy of stimulating domestic demand has prompted With the development of major equipment, the demand for medium and high-end bearings has increased.
In 18 of the 82 countries and territories imported, the exchange rate exceeded US$10 million, accounting for 94.29% of the total total exchange. The top ten of these 18 countries and regions are: Germany, Japan, the United States, Sweden, Thailand, Italy, France, South Korea, Austria, Singapore.  

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