China’s tyre exports volume fell for three consecutive months

On 18 November, China Customs announced the export data for October. In October, China exported 41.19 million new pneumatic rubber tyres, down 16 per cent year-on-year. The weight of these tyres was 600,000 tons, down 1.5 per cent. During the same period, the total value of China’s tyre exports was 10.4 billion yuan (about £1.2 billion; 1.4 billion euros), an increase of 10.5 per cent.

From January to October, China exported 466 million tyres, a year-on-year decrease of 4.2 per cent. The export weight was 6.18 million tons, a year-on-year increase of 7.8 per cent. And the export value reached 104.5 billion yuan (about £12.3 billion; 14.2 billion euros), an increase of 19.1 per cent.

If only the year-on-year dimension is considered, the performance of tyre exports in October was more robust than that in September. In September 2022, China’s tyre export volume decreased by 19.4 per cent, and the export value increased by 9.6 per cent. In October, the export volume was still lower than that of the same period last year, but the decline narrowed. The monthly export value increased by 10.5 per cent, further expanding from 9.6 per cent in September.

However, it is worth noting that, including October, China’s tyre export volume has been lower than in the same period last year for three consecutive months. In August and September, the export volume of Chinese tyres fell by 8.9 per cent and 19.4 per cent year-on-year. There are still two months left in 2022, and it is still challenging to determine the result of China’s annual tyre export volume. From January to October, Chinese tyre exports’ total weight and value increased by 7.8 per cent and 19.15 per cent year-on-year. Therefore, the annual data of these two indicators is likely to be positive growth.