Main business income of bearing industry in China is predicted to be about 158 billion yuan in 2012, with an increase of about 11%

Resource from: CBCC Likes:2962

Mar 02,2012

Recently released by Ministry of Industry and Information Technology (China) that the bearing industry showed a trend of rising first and then falling in 2011, with the profit growth at the end of last year slipped into negative growth. The bearing market will witness further uncertainties in 2012 , and it is expected that the bearing industry will continue the downward tendency the way as it first appeared in the fourth quarter last year and then experience a slow recovery in the second half of this hear -- although the recovery rate is limited. The main business income of bearing industry is predicted to be about 158 billion yuan, with an increase of about 11%. According to the statistics concerning the key enterprises shown by China Bearing Industry Association (CBIA), the main business income of national bearing industry was 142 billion yuan, with an increase of 12.7 % year on year; and 180 million units of bearing products in total were produced, with an increase of 20% year on year. The annual export volume of bearings was 49 million sets, and the foreign exchange earnings reached 4.5 billion dollars, increased to 18.2% and 36.6%respectively; the accumulated export volume of bearings was 1.88 billion sets, and 4.17 billion dollars in total was input, increased to 4.6 and 9.4% respectively. The import/export surplus was 330 million dollars, which means an end of two-year import and export trade deficit situation since 2009.

(CBCC)

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