1、 Bearing outlet
1. The decline of bearing outlet is still expanding
In June 2020, China's bearing exports earned foreign exchange of US $353 million, a month on month decrease of 2.19%, a year-on-year decrease of 23.27% compared with last June, and an increase of 8.47 percentage points compared with the year-on-year (- 14.8%) drop last month. The number of bearing exports completed 422 million sets, a month on month increase of 4.77%, a year-on-year decrease of 16.68% compared with last June, and a year-on-year decrease of 1.58 percentage points compared with last month (- 15.1%);
As of June 2020, the accumulated foreign exchange earned from exports has reached 2.193 billion US dollars, down 17.76% over the same period of last year and 1.15 percentage points higher than -16.61% last month. 2.511 billion sets of bearings were exported, a year-on-year decrease of 14.05% and an increase of 0.55 percentage points over the previous month's - 13.5%;
Export volume and foreign exchange earning in June 2018 - 2020
2. The largest decline in bearing exports of all continents in North America, Australia, although growing significantly, accounts for too little
3. The export of bearings in the seven bearing industry clusters fell by 18.31%, with a slight increase in three provinces and cities on a month on month basis
From January to June, the seven bearing industry clusters accumulated USD 1793.442 million of foreign exchange earned from bearing exports, accounting for 81.76% of the total foreign exchange earned, down 18.31% year on year, 1.63 percentage points higher than the previous month's -16.68%.
2、 The import of bearings increased significantly
In June 2020, China's foreign exchange consumption of bearing imports was USD 368 million, up 10.13% month on month, 34.64% year on year compared with last June, and 26.47 percentage points higher than last month's (8.17%) growth. The number of imported bearings was 191 million sets, up 3.74% month on month, 26.61% year on year compared with last June, and 22.61 percentage points higher than last month's (4%) growth.
As of June 2020, China's accumulated foreign exchange imports amounted to 1.907 billion US dollars, an increase of 12.37% over the same period last year. The import of 1.151 billion sets of bearings increased by 4.27 percentage points compared with 8.1% last month, 15.31% compared with the same period last year, and 2.02 percentage points compared with 13.29% last month;
Import quantity and foreign exchange use in June 2018 - 2020
3、 In June, the import and export trade volume of bearings in the current month was still in surplus
In June 2020, China's import and export trade volume of bearings in that month was USD 15 million, and the accumulated trade surplus from January to June was USD 286 million.
Surplus and deficit of import and export trade in June 2018 to 2020