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According to statistics of Ningbo Customs, Ningbo exported 1.79 billion sets of bearings from January to October, valued at 650 million U.S. dollars, an increase of 18.3% and 36.5% over the same period of last year (the same below). The average export price was $0.36 per set, up 12.5%.
In terms of general trade, exports accounted for an absolute proportion. From January to October, 1.78 billion sets of export bearings were exported, representing an increase of 18% year-on-year, accounting for 99.4% of the total exports during the same period. Ningbo privately-owned enterprises exported 800 million sets of bearings, an increase of 34%, foreign-invested enterprises exported 430 million sets of bearings, a decrease of 2.5%, and state-owned enterprises exported bearings of 420 million sets, an increase of 11.8%, accounting for 92.2% of the total export volume of the same period. .
The EU, India, ASEAN and UAE are the major export markets. In January-October, Ningbo City exported 400 million sets, 290 million sets, 170 million sets and 160 million sets of export bearings, respectively, an increase of 27.4%, 13.5%, 23.2%, and 66.7%, which together accounted for the total export volume over the same period. 57%. The export products are mainly deep groove ball bearings. From January to October Ningbo exported a total of 1.6 billion sets of deep groove ball bearings, an increase of 15.5%, accounting for 89.4% of the total exports during the same period.
Ningbo is an important bearing production and export base in China. As one of Ningbo's leading export products, Ningbo City Bearing has won a place in the international market with excellent quality. However, bearing companies are currently at the stage of capacity expansion as a whole and lack the products and brand effects of independent intellectual property rights. The average current bearing export price is only about one-third of the average import price (the average price of imported bearings for the same period is US$1.2 per set). It is suggested that enterprises accelerate the promotion of core advantages such as technology and brand, increase the added value of products, and achieve sustainable industrial development.
In terms of general trade, exports accounted for an absolute proportion. From January to October, 1.78 billion sets of export bearings were exported, representing an increase of 18% year-on-year, accounting for 99.4% of the total exports during the same period. Ningbo privately-owned enterprises exported 800 million sets of bearings, an increase of 34%, foreign-invested enterprises exported 430 million sets of bearings, a decrease of 2.5%, and state-owned enterprises exported bearings of 420 million sets, an increase of 11.8%, accounting for 92.2% of the total export volume of the same period. .
The EU, India, ASEAN and UAE are the major export markets. In January-October, Ningbo City exported 400 million sets, 290 million sets, 170 million sets and 160 million sets of export bearings, respectively, an increase of 27.4%, 13.5%, 23.2%, and 66.7%, which together accounted for the total export volume over the same period. 57%. The export products are mainly deep groove ball bearings. From January to October Ningbo exported a total of 1.6 billion sets of deep groove ball bearings, an increase of 15.5%, accounting for 89.4% of the total exports during the same period.
Ningbo is an important bearing production and export base in China. As one of Ningbo's leading export products, Ningbo City Bearing has won a place in the international market with excellent quality. However, bearing companies are currently at the stage of capacity expansion as a whole and lack the products and brand effects of independent intellectual property rights. The average current bearing export price is only about one-third of the average import price (the average price of imported bearings for the same period is US$1.2 per set). It is suggested that enterprises accelerate the promotion of core advantages such as technology and brand, increase the added value of products, and achieve sustainable industrial development.
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