China Tire Export QTY & Price Up in Quarter 1, 2017

According to China Customs statistics, in the first quarter of this year, China exported new inflatable rubber tires (hereinafter as "tires") totaling 110 million pieces, up 7.1% year-on-year (YOY); worth 20.51 billion China yuan, up 9.1% YOY; average export price at 188.8 yuan/piece, up 1.9% YOY. In March alone, the tire export reached 40.959 million pieces, up 10.6% YOY; worth 8.05 billion yuan, up 8.8% YOY; average export price at 196.5 yuan/piece, down 1.6% YOY.

Characteristics of tire export from China in the first quarter:

(1) Processing-trade mode accounted for more than 60% of the export. In the first quarter, China exported 68.555 million tires by processing trade, up 6.5% YOY, accounting for 63.1% of the total export; and exported 36.657 million tires by ordinary trade, up 6.3% YOY, accounting for 33.7%.

(2) March export quantity rebounded largely, with average price down much. In March alone, 40.959 million tires were exported, up 10.6% YOY and up 54.2% from this February, while the export price was 196.5 yuan/piece, down 1.6% YOY and down 2% from this February. (See the chart below.)

(3) The export quantity increased to EU, Latin America and Africa, while reduced to USA. In the first quarter, China exported 26.422 million tires to EU, 19.741 million tires to Latin America and 14.692 million to Africa, respectively up 12.3%, 11.1% and 31.2% YOY; meanwhile exported 12.776 million tires to USA, down 22.1% YOY; the four major markets accounted for 67.8% of the total export.

(4) The major exports were passenger-car tires, bicycle tires, bus/truck tires and motorcycle tires. In the first quarter, the exported passenger-car tires reached 45.782 million pieces, up 11.4% YOY, accounting for 42.1% of the total export; bicycle tires reached 23.606 million pieces, down 1.9% YOY, accounting for 21.7%; bus or truck tires 19.982 million pieces, up 10.6% YOY, accounting for 18.4%; and motorcycle tires 9.524 million pieces, up 31.8% YOY, accounting for 8.8%.