According to the tire export data for October 2022 released by The General Administration of Customs P.R.China, after experiencing continuous high growth in H1, the inflection point of tire export began to appear from July to August. It fell from September to October compared with the same period last year.
However, as the current epidemic prevention and control policies continue to be adjusted and business and travel measures have been more relaxed, Chinese tire enterprises are gradually starting to go abroad to participate in overseas tire exhibitions, taking step forward doing promotion and business negotiations.
Data show that in October 2022, China's rubber tire export is at 620,000 tons, an increase of 20,000 tons month-on-month, down 1.2% year-on-year; however, the export value was 10.855 billion yuan, up 10.8% year-on-year, with the average export price still rising year-on-year.
In October, the export volume of new pneumatic rubber tires was 600,000 tons, an increase of 20,000 tons month-on-month and a decrease of 1.5% year-on-year. The export value was 10.453 billion yuan, up 10.5 percent year-on-year. The export quantity of new pneumatic rubber tires in October was 41.19 million, slightly reduced 180,000 from the previous month, a sharp decline of 16% year-on-year.
From January to October this year, China's total export of rubber tires was 6.42 million tons, up 7.5% year-on-year; the export value was 109.262 billion yuan, up 18.6 percent year-on-year. In the first ten months of this year, the accumulated export amount of new pneumatic rubber tires was 6.18 million tons, up 7.8 percent year-on-year; the export value was 104.535 billion yuan, up 19.1% year-on-year. The accumulated export quantity from January to October was 466 million new pneumatic rubber tires, down by 4.2% year-on-year.
From the above data, we can learn that China's tire export has formed a new shift in trend. What do you think about this? Do you believe that 2023 will be a promising year for the industry? Please subscribe to our regular newsletter to never miss important updates in the tire industry, and see you in CITEXPO 2023!
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