In the first half of 2020, bearing imports rose against the trend, and high-end manufacturing is gaining momentum.
Category: Industry News
Aug 27,2021
In June 2020, China's foreign exchange for bearing imports was 368 million USD, an increase of 10.13% month-on-month, and a year-on-year increase of 34.64% compared to June last year, which is an increase of 26.47 percentage points compared to last month (8.17%). The number of bearing imports reached 191 million sets, a month-on-month increase of 3.74%, a year-on-year increase of 26.61% compared to June last year, and an increase of 22.61 percentage points compared to last month (4%).
As of June 2020, China has accumulated foreign exchange for imports totaling 1.907 billion USD, with a year-on-year growth of 12.37%. This is an increase of 4.27 percentage points from last month's figure of 8.1%. The number of imported bearings reached 1.151 billion sets, an increase of 15.31% compared to the same period last year, and an increase of 2.02 percentage points from last month's figure of 13.29%.
From the perspective of imported bearing categories, the foreign exchange for tapered roller bearings increased by 45.98% year-on-year, becoming the main driver for bearing import foreign exchange; followed by bearing parts with a year-on-year growth of 25.3%, other ball bearings with a year-on-year growth of 23.24%, cylindrical roller bearings with a year-on-year growth of 15.39%, and spherical roller bearings with a year-on-year growth of 13.73%. It is not difficult to see that under the new circumstances, the structure of the bearing market is undergoing significant changes.
From the perspective of importing countries, foreign exchange from Japan reached USD 490 million, ranking first with a year-on-year growth of 4.61%. Germany ranked second with foreign exchange amounting to USD 420 million but had a growth rate reaching up to 28.31%. Surprisingly, Taiwan's import foreign exchange for bearings reached USD 137 million, ranking third with an astonishing year-on-year growth rate of 346%. This indicates that as China's economic structure adjusts, the market for bearing importing countries is also undergoing significant changes.
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