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| Bearing products from SKF |
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According to the latest statistics from China Bearing Industry Association (CBIA), in 2011, China's bearing industry achieved RMB142 billion in main business income, up by 12.7% year on year. The output totaled 18 billion sets, 20% up in comparison to the same period of 2010.
As for the foreign trade, 4.9 billion sets of bearings were exported at a value of US$4.5 billion, representing increases of 18.2% and 36.6% respectively on a like-for-like basis. Imports amounted to 1.88 billion sets in quantity or US$4.17 billion in value, representing increases of 4.6% and 9.4% year on year respectively. The industry reported a trade surplus of US$330 million in 2011.
The CBIA forecasts that the bearing market in China will become more uncertain in 2012. The downward trend starting from the fourth quarter of last year will continue in the first half of 2012, followed by a slight recovery in the second half. It is estimated that in 2012, the Chinese bearing industry's main business income will reach RMB158 billion, a rise of around 11% year on year, while the output will increase by 16% to approximately 21 billion sets.
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