In the first quarter of 2023, Shandong Province in China exported a total of 75.419 million new pneumatic rubber tires, representing an 11.1% increase compared to the same period in 2022. The total export value of these tires amounted to 19.45 billion yuan (RMB), reflecting a year-on-year growth of 17.6%. The average export price per tire reached 257.9 yuan (RMB), indicating a 5.8% increase.
During Q1 2023, China exported a total of 139 million tires, representing a modest 1.3% growth compared to the corresponding period in 2022. The export amount for these tires stood at 33.385 billion yuan, indicating a year-on-year increase of 20.4%. A comparison between the tire export data of Shandong Province and China as a whole reveals that Shandong accounted for approximately 54% of China's total tire export volume. Furthermore, Shandong's growth rate of 11.1% exceeded the national level of 1.3%. In terms of tire export value, Shandong contributed to approximately 58% of China's total, although its growth rate of 17.6% was lower than the national level of 20.4%.
A noteworthy trend is a significant increase in Shandong's tire exports to the European Union (EU) market during Q1 2023. Shandong exported 12.517 million tires to the EU, representing a substantial growth of 16.3%. This indicates that approximately 17 tires out of every 100 exported by Shandong in Q1 2023 were destined for the EU market. Shandong Qingdao Customs attributes this growth to factors such as the appreciation of the Euro, reduced freight costs benefiting European customers' procurement, superior product quality, and the impact of brand reputation.
Furthermore, Shandong's tire exports to countries along the "One Belt One Road" initiative and Latin America experienced rapid growth during the same period. For instance, Shandong exported 4.396 million and 4.011 million tires to Mexico and Brazil, respectively, representing year-on-year growth rates of 31.6% and 65.1%.
And the most exciting news is that more than 50 Shandong tire enterprises will be participating as exhibitors at the China International Tire Expo (CITEXPO) this year! As the leading tire industry trade show and wheel exhibition in Asia, CITEXPO offers unparalleled opportunities to connect with influential market players, including leading manufacturers, suppliers, and industry experts. We invite you to join us from September 4-6, 2023, at the Shanghai World Expo Exhibition & Convention Center. See you this year!
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