China has significantly increased the export of tires
Nov 29, 2020
China exported 46.1 million tires in October 2020, up 26.1% from the same period last year, according to official statistics from China's General Administration of Customs.
The value of exports increased by 18.3% compared to last year, to $1.3 billion. In September, this figure increased by 6.9% compared to last year.
The export weight also increased: in October it increased by 24.8% and reached 590 thousand tons.
For the first time in 2020, growth figures reached double-digit growth across the board, analysts say.
However, China's tire exports in the first ten months YTD are 7.7% behind the same period in 2019 at 384 million tires. The export value for ten months fell by 12.9%, to $10.8 million, and the weight decreased by 5.6%, to 4.9 million tons.