China Q1 inflated tire export volume up 10%

China exported 40.96 million inflated new rubber tires in March, up 10.60% year on year, and the exports grew 8.8% to 8.05 billion yuan.

In the first three months, China exported 109 million inflated new rubber tires accumulatively, up 7.1%, and the overall exports rose 9.1% to 20.5 billion yuan

The export volume in the first quarter reached a four-year high, showing the tire export was better in comparison with the final quarter of last year.

In the first quarter, the tire exports from Shandong province, the major tire exporter in China, reached 11.55 billion yuan, accounting for 56.3% of the country’s total.

At the same time, the tire exports from Dongying, the major tire exporter in Shandong, was 3.55 billion yuan, accounting for 30.7% of the total in Shandong, or 17.3% in China.

It means that in the first quarter, in every 5 exported tires, there was 0.8 produced in Dongying.

In the first quarter, the average export value of tires exported by China was 188.79 yuan/tire, much higher than the average unit prices at the same period last year and the year before last year, but the price gaps were small.

So the conclusion is that China’s tire export so far is stable and hasn’t been affected by negative elements outside.