China’s tire exports record two-digit dips in first quarter

Beijing – China's tire exports fell 11.3% year on year in the first quarter of 2020 to 102 million units, according to latest figures by General Administration of Customs.  
 
Export value – presented in US dollars –  for the quarter stood at $3 billion (€2.8 billion), representing a 13.2% drop year-on-year, the Chinese agency noted. Weight of such exports fell by 6.9% to 1.3 million tonnes.
 
There were, however, signs of recovery from the downturn in March, as the country registered a mere 0.9% decrease in exports to 42 million units. 
 
Export value fell 4.5% year on year to $1.3 billion over the month of March while volumes in tonnage climbed 3.1% to 1.3 million tonnes.
 
The country’s export of 'four-wheeler tires' in the first quarter reached 1.2 million tonnes, down by 6.4% year on year. The value of such exports dropped 12.7% to $2.6 billion.
 
During the month of March, China exported 528,000 tonnes of 'four-wheeler tires', up 4% from a year ago. In terms of value, the exports were down 3.6% year-on-year at $1.2 billion.