Dongying tire exports surge sharply in 1st quarter

The tire exportation showed an immense increase in the first three months of 2017 for Dongying city, Shandong province.

Dongying had tire exports of 3.549 billion yuan for the first three months in 2017, up 11.2 percent from the previous quarter. In March alone, its tire exports reached 1.46 billion yuan.

As of the end of March, Dongying had 376 enterprises with exporting records, 18 of which exported over 100 million yuan.

Shandong Xingyuan Group (with an export value of 480 million yuan),Shandong Changfeng Tire (434 million yuan), Shandong Hengfeng Rubber & Plastics (411 million yuan) are the top three companies in terms of export value. The three enterprises combined covered 18.8 percent of the city’s overall tire exports.

Tire exports accounted for 50.3 percent of Dongying’s the foreign trade.

In the first quarter, Dongying’s natural rubber imports reached 677 million yuan, increasing by 150.7 percent. The compound rubber imports reached 275 million yuan, up by 8.8 percent.

Shangdong province contributes nearly a half toChina’s tire exportation. The No.1 destination is the United States. The exports towards the U.S. once covered about 30 percent of the province’s total tire exportation.