China's tire exports up in July, but down 18% for the year
BEIJING — Tire companies in China exported 47.3 million "new rubber tires" in July 2020, up 1.7% from the same month a year ago, official state figures show, but the total for the first seven months is down 17.5% from 2019.
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 U.S. dollars shrank 6.6% in July, to $1.3 billion, but this represents 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 metric tons, in contrast wth a 20.7% drop in June.
The agency's report does not provide data by tire type.
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 tons.
Nevertheless, this shows at least three percentage points lower rates for year-on-year decline, compared with such rates a month ago.