China crude imports up 8.7% in March, posts overall trade surplus

10 April 2012 07:31  [Source: ICIS news]

SINGAPORE (ICIS)--China’s imports of crude oil rose by 8.7% year on year to 23.6 m tonnes in March, customs data showed on Tuesday.

Total crude imports in the first three months of 2012 rose by 11.4% year on year to 70.6m tonnes, the data from China Customs showed.

Meanwhile, imports of ABS resins fell by 18.8% year on year to 147,000 tonnes in March, according to China Customs.

The country’s overall exports grew by 8.9% year on year to $165.6bn in March, while imports grew 5.3% to $160.3bn in the month, the data showed.

This resulted in a trade surplus of $5.3bn, reversing a $31.5bn deficit in February, according to the data.

	March 2012		January-March 2012
	'000 tonnes	% change  (y-o-y)	'000 tonnes	% change  (y-o-y)
Imports
Crude	23,550	8.7	70,610	11.4
Oil Products	3,920	1.0	10,800	-2.1
Primary Shape Plastics	2,030	-8.1	5,750	-2.6
ABS resins	147	-18.8	411	-14.5
Polyester Chips	16	-1.2	48	16.8
Natural rubber	190	-13.6	480	2.4
Synthetic rubber	135	-12.5	360	-6.5
Exports
Crude	210	-38.2	950	37.6
Oil Products	2,060	-19.8	6,060	-7.1
Plastic Products	717	15.2	1,809	6.6
Source: China Customs

By: Fanny Zhang
+65 6780 4359

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