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China tire export recovered in March

Recently, China's Customs released tire export in the first quarter of 2020.

Statistics showed that Chinese tire export obviously recovered in March, but affected by export diving in January and February, tire export in the first quarter still declined.

In March, there was 600,000 tons of tire exported in March, yearly increasing 2.9%, and realized 9.409 billion yuan of export value, yearly decreasing 1.3%.

Amongst, there were 41,990,000 units of new tires exported in March ,yearly down by 0.9%.

In the first three month, there were 1,360,000 tons of tire accumulated exported, yearly declining 7.1%, and accumulated exported 21.683 billion yuan, yearly diving 11.3%. 

On the side of export volume, there were 102 million units of new tires exported in the first three months, yearly diving 11.3%.

To be noticed that, Chinese tire export has been suffered damaging since COVID-2019 outbreaking overseas in April.

With tire inventories rising, some tire factories have to stop production. The research showed that there would be 19% of tire companies plan to stop production during Labor Vacation.