Rising shipping costs may have affected China’s tyre exports

The May export data released by the customs showed that China exported 56.38 million tyres in May, a year-on-year increase of 4.8 per cent; the total value reached 13.05 billion yuan (about £1.42 billion; €1.68 billion), an increase of 2.1 per cent. The growth rate of both figures compared to last year’s period was less than 5 per cent, which is relatively rare in recent years. In particular, the total export value of tyres, which has been proliferating year-on-year in the past few years, has rarely seen such a low growth data of 2.1 per cent.