The Rate Of Export Growth Of Chinese Tires Was Lower Than Expected
Posted on July 26, 2009
Filed Under Interesting
Analysts of China Research and Intelligence (CRI) have noted that Chinese tire export continues to grow, but not at the expected rate.
In April 2009, the production of tires in China grew by 13.7% compared to the same period last year - up to 58.51 million units. According to the new figures, released by China Research and Intelligence (CRI), between January and April 2009 185.6 million tires were produced - 0.2% more than last year. In light of the difficulties faced by the suppliers of auto parts, including tire manufacturers in the past year some growth is likely to be observed. At the same time, CRI analysts noted that export volumes were «not so promising».
In the period from January to April, China exported 81.31 million tires at the total cost of 2.01 billion dollars (at 23.3% and 21% less compared to last year accordingly). In April, export amounted to 23.16 million tires (less than at 19.2%) at the cost of 580 million dollars (less at 16.1%).
Recalling the global economic crisis, it should be mentioned, that China suffered greatly because of export-oriented economy. Due to the import decrease in the USA, lots of Chinese manufacturers experienced problems, as the USA is the main importer of the Chinese goods, which buys almost 40% of Chinese export-oriented production. And the situation in tire business is the same, so it is not surprising, that Chinese tire export grows less, than it was previously expected.
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