In the first ten months of Ningbo, the unit price of bearing exports increased by more than 10%

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.