According to UK trade statistics, approximately £3 million worth of tyres are exported annually to other EU countries, including many in Eastern Europe, while just under £1.5 million worth are exported to non-EU countries, mainly India. It is worth remembering that these statistics have been shown to be underestimated by HMRC when compared to actual exports through one single company.
Restrictions Expected for UK Tyre Exporters
Taylor, explained that despite the export market being an important recovery route, the market needs to be better prepared for potential changes.
“We are over dependent on export, most definitely, and the bulk of it goes to India,” Mr Taylor explained.
“Frankly, they have enough of their own, and if they don’t now then they soon will. The problem there is collections, it is easier to buy ‘waste’ than collect it yourself in India, but that will change soon, India have made moves on that already.
“We need to be prepared for that in a way perhaps the plastics people weren’t. You can’t switch these on overnight you need a business environment which is investable.”
The UK tyre export market needs to be better prepared for potential foreign import restrictions, according to Peter Taylor OBE.