China Tire Export Posted Year-on-Year Growth!

On May 18th, the General Administration of Customs P.R.China released tire export data for April 2022. China Rubber Magazine discovered that although performance remained flat month-on-month, significant growth could still be seen year-on-year. The notable fact is that China's tire export prices have increased significantly yearly.

Key statistics which is shown by the relevant data are as follows:

1. China's total export of rubber tires was 640,000 tons, the same as the previous month, while scoring an increase of 11.6% year-on-year; the export value was 10.439 billion yuan, an increase of 18.3% year-on-year.
2. The export volume of new pneumatic rubber tires was 620,000 tons, the same month-on-month, an increase of 12.7% year-on-year; the export value was 10.113 billion yuan, an increase of 19.4% year-on-year.
3. The export quantity of new pneumatic rubber tires was 46.18 million, a month-on-month decrease of 1.09 million, a year-on-year reduction of 2%, and 5.3% points from March.

While tire export performance indicates domestic tire makers are performing splendidly, global expansion by the Chinese tire makers points to excellent strategies to strengthen their global presence overseas. Chinese tire enterprise Jiangsu General Science Technology Co., Ltd. accelerates overseas project construction by issuing an announcement on May 23rd proposing to raise no more than 1.028 billion yuan for Cambodia's high-performance meridian tire project and additional working capital. The General Cambodia project plans to invest 1906.58 million yuan, with an annual output of 5 million high-performance semi-steel radial tires and 900,000 high-performance all-steel radial tires. Production is expected to start in June 2023.

Subscribe to our CITEXPO Official Facebook Page to not miss any important updates regarding the Chinese tire industry. Visit our online platform CITEXPO Direct to get free access to more than 170+ accredited manufacturers from China.