Export price per tire up 11% in Q1-3 in Shandong province

The local customs of Qingdao city, Shandong province, has lately released the tire export statistics of Shandong, which demonstrate some new characteristics of the tire export of the province.

Much higher tire export price

Shandong province exported 170 million pneumatic tires in January-September this year, up 1.8 percent from the same period of last year.

In January-September, the value of tire export surged 13.2 percent on year to 41.97 billion yuan, with the average price of each tire exported up 11.2 percent from a year earlier.

In the past few months since February, 2017, the average price of tires exported from Shandong has been higher than the same month of 2016.

In MAY, the price reached a peak as of October, 2015.

In September, the average price of tires exported from Shandong surged 17 percent on year, while it slightly edged down 0.1 percent from August.

Foreign market readjusting

In the first three quarters of this year, the European Union, the United States, Nigeria and Brazil are the top four destinations for tires from Shandong province, which together accounted for 43.4 percent of Shandong’s tire exports.

In January-September, Shandong exported 41.13 million tires to the EU, 15.34 million to the U.S., 9.39 million to Nigeria and 9.19 million to Brazil.

The export to the EU rose 5.1 percent on year; that to Brazil rose sharply by 30.4percent;and that to Nigeria surged 46.6 percent.

What’s worth noting is that the tire export to the U.S. dropped 22 percent during the period.

Higher exports by foreign companies

Foreign-invested companies in Shandong province exported 30.54 million tires in January-September, up 21.5 percent on year, marking a significant change.

In comparison, export by the private firms declined 1.4 percent to 130 million tires, while the state-owned enterprises exported 15.47 million tires, down 3.5 percent.

In January-September, Shandong exported 97.93 million passenger vehicle tires, growing 2.4 percent to account for 56.6 percent of the total.

In the meantime, truck and bus tire export of Shandong totaled 41.59 million, down 0.7 percent, while the motorbike tire export sugred 20.9 percent to 17.57 million.