2022 China’s Foreign Trade Import and Export Data Report

In 2022, under the complex international environment, China’s bearing industry has maintained stable growth. According to the data of the general administration of customs, the specific situation of China’s bearing import and export in 2022 is as follows:

In terms of imports, China’s total imports in 2022 will be about $15 billion, an increase of 5% year-on-year in 2021. Among them, the import value of rolling bearings is about 10 billion us dollars, accounting for 67% of the total, an increase of 4%; Imports of plain bearings were $5 billion, accounting for 33% of the total, an increase of 6%. The main source countries of imports are still Japan (about 30%), Germany (about 25%), and South Korea (about 15%).

In terms of exports, China’s total bearing exports in 2022 will be about 13 billion us dollars, an increase of 10%. Among them, the exports of rolling bearings were about 8 billion us dollars, accounting for 62% of the total exports, an increase of 8%; Sliding bearing exports were $5 billion, accounting for 38% of total exports, an increase of 12%. The main export destinations are the United States (about 25%), Germany (about 20%), and India (about 15%).

In 2022, the export growth rate of China’s bearing industry is higher than that of imports, but there is still a large dependence on imports as a whole. Looking to the future, domestic bearing enterprises should continue to increase investment in research and development, improve core technology innovation capabilities, and broaden overseas sales channels, in order to further expand export market share and enhance the comprehensive strength of China’s bearing industry.

Post time: Sep-05-2023