In July, the growth rate of China's tire industry accelerated. The rapid growth of foreign trade across the industry, steady growth of economic efficiency, and improved quality of economic operations.
I. Accelerating the growth of industry production
In July, the industry produced 72.81 million tires, an increase of 12.5% ​​year-on-year. In terms of sub-varieties, the output of radial tires was 33.20 million, an increase of 8.1% year-on-year; the output of biased tires was 38.19 million, an increase of 14.9% year-on-year; the output of motorcycle tires was 1.42 million, an increase of 81.1%.
From January to July, the industry produced a total of 46.94 million tires, an increase of 5.2% year-on-year. The output of radial tires was 22.221 million, an increase of 6.2% year-on-year; the output of bias tires was 223.65 million, an increase of 3.7% year-on-year; the output of motorcycle tires was 6.86 million, an increase of 31.6% year-on-year.
Second, rapid growth in foreign trade
In July, the foreign trade of the tire industry showed a rapid growth trend. The total value of imports and exports was 1.546 billion U.S. dollars, a year-on-year increase of 45.3%. Among them, the export value was 1.478 billion U.S. dollars, an increase of 48.7% year-on-year; the import value was 0.68 billion U.S. dollars, down 2.4% year-on-year. The trade surplus was US$1.41 billion, a year-on-year increase of 52.6%.
From January to July, the total import and export trade of the tire industry was 8.42 billion U.S. dollars, an increase of 43.3% year-on-year. Among them, the export volume was 7.99 billion U.S. dollars, an increase of 44.3% year-on-year; the import volume was 421 million U.S. dollars, an increase of 26.6% year-on-year.
III. Steady economic growth
From January to June, the tire industry achieved a total profit of 7.83 billion yuan, a year-on-year increase of 8.7%. Affected by the increase in prices of raw materials such as natural rubber, the industry's profit margin dropped significantly. In the first half of the year, sales margin was 4.18%, a year-on-year decrease of 0.73 percentage points.
On the whole, in July, the quality of the economic operation of the tire industry in China has improved, and the output and benefits have steadily increased; however, there are still problems such as the excessively high proportion of biased tires and the large backward production capacity. We must conscientiously implement the "Tire Industry Policy", strive to change the mode of development, in-depth adjustment of industrial structure, increase efforts to eliminate backward production capacity, and promote the healthy development of the industry.
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