Dublin, Ireland – In 2015, China exported 44.451 million tires with a year-on-year decreasing of 6.58 percent and brought in an export value of $13.846 billion with a year-on-year growth decreasing 15.81 percent year on year. Influenced by the continuous decline in the global price of natural rubber in recent years, costs of tire production have decreased too, leading to a decline in average unit price, according to a new market report by Research and Markets.
Chinese tires are exported to over 200 countries and regions, among which the U.S. is the largest export market. In 2015, China exported 1.065 million tons of tires to the U.S. with a year-on-year decreasing of 20.78 percent and brought in an export value of $2.783 billion with a year-on-year decreasing of 23 percent. The EU is the second largest tire export market. Besides, the United Arab Emirates, Mexico, Russia, Saudi Arabia and Australia all constitute important export destinations of tires.
In 2016, the export of Chinese tires still seems unpredictable due to the slow growth in the global economy and shrunk domestic demand. On one hand, as the European and Japanese economies are on the brink of recession and emerging economies slow down their growth, the external market demand is limited; on the other hand, the competitive devaluation of foreign currencies has resulted in the passive appreciation of RMB and thus the decreased competitiveness of Chinese exports. On the whole, as China has great cost and industrial chain advantages, the Chinese tire industry is expected to maintain its status in the global market in the near future and reports a continuous increase in export.
