According to GACC, China's tyre exports reached 710,600 tonnes in June, up 5.15% on month and 24.17% on year. And the accumulative total export volume from January to June hit 3,756,500 tonnes, increased by 13.60% year-on-year. Among them, passenger car tyre exports were 266,800 tonnes in June, up 7.91% on month and 25.17% on year, and its accumulative total export volume reached 1,378,600 tonnes in H1 2023, jumped by 18.68% compared with H1 2022. In addition, winter tyre sales overseas improved in June, which markedly pushed up the export volume.
2021-2023 China Passenger Car Tyre Export Volume
Source: GACC and OilChem
China Passenger Car Tyre Export Volume Comparison (by continent)
Source: GACC and OilChem
Centralized production and sales of winter tyres in May and June in Chinese tyre factories have been supporting overall export volume. Moreover, export profits expanded as RMB depreciated sharply against US dollar, thus boosting Chinese semi-steel tyre exports to hit record highs.
New orders of winter tyres overseas may cut slightly in July, but owing to the ongoing production and shipment of previous orders, the export volume of semi-steel tyres will remain high in July.
China Passenger Car Tyre Exports in Different Continents (Unit: '000 tonnes)
|
Continent |
June 2023 |
May 2023 |
June 2022 |
M-o-M |
Y-o-Y |
|
Europe |
109.5 |
90.3 |
77.4 |
21.24% |
41.59% |
|
Asia |
70.2 |
67.9 |
57.2 |
3.37% |
22.71% |
|
North America |
34.6 |
35.2 |
37.2 |
-1.74% |
-7.18% |
|
South America |
24.3 |
26.8 |
16.4 |
-9.38% |
48.54% |
|
Africa |
18.6 |
18.2 |
14.8 |
2.07% |
25.55% |
|
Oceania |
9.6 |
8.8 |
10.2 |
9.68% |
-5.51% |
Source: GACC and OilChem
Top Ten Countries of China Passenger Car Tyre Exports (Unit: million tonnes)
|
Export Destination Country |
June 2023 |
May 2023 |
June 2022 |
M-o-M |
Y-o-Y |
|
Britain |
175.9535 |
179.8270 |
109.4212 |
-2.15% |
60.80% |
|
Russian Federation |
150.9941 |
124.2916 |
56.8164 |
21.48% |
165.76% |
|
Brazil |
144.2075 |
143.6095 |
96.1052 |
0.42% |
50.05% |
|
Saudi Arabia |
139.9439 |
123.4368 |
117.7654 |
13.37% |
18.83% |
|
Germany |
124.8769 |
101.9661 |
113.1764 |
22.47% |
10.34% |
|
Mexico |
113.5205 |
143.5326 |
99.6231 |
-20.91% |
13.95% |
|
Italy |
86.2678 |
62.6217 |
72.6916 |
37.76% |
18.68% |
|
Canada |
79.0084 |
49.7721 |
109.1232 |
58.74% |
-27.60% |
|
Iraq |
77.7255 |
63.9602 |
43.8449 |
21.52% |
77.27% |
|
Australia |
73.3830 |
64.9883 |
84.5555 |
12.92% |
-13.21% |
Source: GACC and OilChem
Written by Cynthia Xin, xinyue@oilchem.net
Edited by Navy Liu, liuchuanjun@mysteel.com
