China’s tyre export data fell month-on-month in September

In September 2023, China’s tyre export data increased significantly year-on-year. However, as in the previous year, the absolute volume of exports fell back after experiencing a peak in July and August. Nevertheless, the decline in data in September this year was smaller than last year.

In September, China exported 51.5 million tyres, continuing a trend of exports exceeding 50 million for several consecutive months. Compared with the same period last year, this figure increased 24.6 per cent. However, the export data of 51.5 million tyres was lower than that in July (56.89 million) and August (54.66 million) this year.

In more detail, in July and August this year, China’s tyre export volume increased by 4.7 per cent and 13.6 per cent year-on-year. In comparison, year-on-year growth in September reached 24.6 per cent. In other words, while the overall curve trend remains unchanged, the curve in 2023 will be smoother, and the gap in export volume between the three months of summer (July-September) is shrinking.

A similar phenomenon occurred in the tyre export value in September. The value of China’s tyre exports in that month was 13.08 billion yuan (approximately £1.47 billion; €1.69 billion), a year-on-year increase of 29.3 per cent. The growth rates in July and August were 9.4 per cent and 19.7 per cent.

The single-month tyre export data in September significantly increased year-on-year, which, to a certain extent, improved the overall data for the first three quarters. From January to September, China exported 463 million tyres, a year-on-year increase of 9.1 per cent. During the same period, the export value was 112.78 billion yuan (approximately £12.67 billion; €14.55 billion), an increase of 19.9 per cent. Among these two data, the export amount deserves special attention. In other words, China’s tyre exports in the first nine months have increased by nearly 20 per cent compared to last year.