It's the tire size. The tire is about 50 mm(2.2") wide and high, and the diameter where the tire meets the rim is 406 mm(16").
Keep in mind that in the wonderful and warped world of bicycle standards, the inch size designation of a tire refers to the outside diameter of the rideable wheel. So if you're talking inches, it's a 20" (16"+2"+2") x 2.2 tire.
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