China’s tire exports flip into recovery mode

Beijing – China exported 47.3 million unit ‘new rubber tires”’ in July 2020, up 1.7% from the same month a year ago, official state figures show. 

This is the first time in 2020 that such figures registered a year-on-year increase, according to China’s General Administration of Customs agency. 

The gain recorded for July trading is all-the-more noteworthy given that the segment had registered a 21.2% drop in the previous month.

The value of exports as presented in US dollars shrunk 6.6% in July, to $1.3 billion (€1.1 billion). 

But, again, this represented a significant improvement from the 27.9% decline in export-value noted in June.

Weight of these exports also climbed 2.5% from July 2019, to 600,000 tonnes, contrasting to a 20.7% drop in June.

Over the first seven months of 2020, the country’s tire exports dipped 17.5% from a year ago, to 244 million units. 

The seven-month export value fell by 22% to $6.8 billion; volumes in tonnage crashed 15.7% to 3.1 million tonnes.

Nevertheless, this shows at least three percentage points lower rates for year-on-year decline, compared with such rates a month ago.