China’s May crude imports hit record high of 25.5m tonnes

11 June 2012 07:00  [Source: ICIS news]

SINGAPORE (ICIS)--China imported a record high of 25.5m tonnes of crude oil in May, up by 18.3% year on year and 14.5% from April, compared with the previous high at 23.64m tonnesin February this year, China Customs data showed over the weekend.

Total crude imports in the first five months increased by 11.1% year on year to 118.4m tonnes, the data showed.

May’s imports of ABS resins decreased by 6.5% year on year to 148,381 tonnes, the data showed.

The country’s total exports expanded by 15.3% on year to $181.1bn (€144.9bn) in May, while imports grew by 12.7% to $162.4bn in the month. Its trade surplus in May was $18.7bn, largely unchanged from $18.4bn in the previous month, the data showed. 

Table 1. China’s imports and exports.

 

May 2012

January-May 2012

 

'000 tonnes

% change  (year-on-year)

'000 tonnes

% change  (year-on-year)

Imports 

crude

25,480

18.3

118,350

11.1

oil products

3,470

2.4

17,290

-1.9

primary shape plastics

1,870

9.4

9,340

-1.2

ABS resins

148

-6.5

681

-15.4

polyester chips

18

26.4

82

15.4

natural rubber

180

38.5

820

7.4

synthetic rubber

127

3.7

604

-3.3

Exports

crude

180

260.0

1,170

14.3

oil products

2,080

-14.8

9,800

-11.1

plastic products

798

15.2

3,326

8.5

Source: China Customs

($1 = €0.80)


By: Fanny Zhang
+65 6780 4359



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