China Details Bearing Exports for November 2008

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Feb 19,2009

The government of China, General Administration of Customs, via the state-controlled Xinhua news, has released data covering its exports of all types of bearings, for November 2008. China's state-volunteered export data is notoriously inaccurate, tending to dramatically understate both the quantity and value. Although the specific numbers may be suspect, the data does offer insight to general trends in volume, growth, and pricing which have proven valuable in terms of general industry analysis. Export data for November 2008 count: 197,430,000 bearings total value: USD $153.5 million average value: USD $0.777 Compared to October 2008 count: 258,040,000 bearings total value: USD $176.6 million average value: USD $0.684 Compared to September 2008 count: 280,630,000 bearings total value: USD $195.3 million average value: USD $0.695 As the export data mounts, it appears the global economic slowdown is beginning to have a dramatic impact on bearing manufacturers in China. Although there is some seasonality apparent in the bearing export data supplied, China's bearing exports are clearly dropping more sharply than in previous years. July: 324 million bearings August: 312 million September: 281 million October: 258 million November: 197 million For the calendar year through November, China said it has exported just over 3.1 billion bearings, valued at $1.9 billion -- up from 3.0 billion in 2007 worth $1.4 billion. As 2008 has gone on, China's bearing export growth has been slowing steadily. Through June, exports had been up 15% over 2007, up 14% through July, up 13% through August, up 11% through September, up 10% through October, and now up just 5.5% through November.

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