Date: 2013-07-31

Foreign Trade Deficit of China Bearings Stood at 300 million US dollars in the first half of 2010

In the first half of 2010, China has totally exported 1.88 billion sets of bearings and earned foreign exchange of 1.447 billion US dollars, which increased 76.5% and 65.56% separately compared with that in the same period lase year; the imported bearings amounted to 875 million sets and the foreign exchange payment was 1.793 billion US dollars, which increased 58.64% and 51.54% on a year-on-year basis. The foreign trade deficit was 346 million US dollars.

From the product structure of exported bearings, the export of ball bearings were still in the first place which took up 85.27% of the total export volume; the export and foreign exchange of needle roller bearings still kept higher increse, which increased 205.09% and 177.25% separately compared with that in the same period last year; the export of cylindrical roller bearings kept high increase, which increased 194.63% on a year-on-year basis,however, the foreign exchange only increased 6.46%, which indicated that the product structure of cylindrical roller bearings exported has changed. The export volume and foreign exchange of tapered roller bearings increased 61.78% and 56.87%separately in the first half of the year.

In the first half of the year, China has exported bearings to 178 countries and regions, in which, the export to 38 countries and regions exceeded 6 million US dollars. The foreign exchange from these 38 countries and regions was 1.36 billion dollars, which was 94.15% of the total foreign exchange earned in bearings export, moreover, the foreign exchange from Asian countries and regions was the most, which increased greatly on a year-on-year basis.

Judging from the bearings import, on the aspect of product structure, the import and foreign exchange of self-aligning bearings increased most, which was 167.99% and 154.39% separately; the import of thrust ball bearings increased 210.57% and the foreign exchange increased 59.63%; the import of cylindrical roller bearings and tapered roller bearings also increased a lot, which increased 63.23% and 123.34% separately compared with that in the same period last year; the import of spherical roller bearings had a declining trend.

In the first half of the year, China has imported bearings from 75 countries and regions, in which, the foreign exchange from 19 countries and regions has exceeded 6 million dollards and totally spent foreign exchange of 1.679 billion dollars, which took up 94.67% of the total foreign exchange spent on importing.

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