China's Oct crude imports hit one-year low; trade surplus doubles

08 November 2013 08:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s crude imports hit a one-year low at 20.4m tonnes in October, a decrease of 13.5% year on year and 20.5% month on month, official customs data showed on Friday.

Total imports of crude in January-October increased by 3.4% on year to 231.6m tonnes, the data indicated.

Heavy refinery maintenances and low refining margin are major reasons behind the decline of crude imports in October, industry sources said.

Its imports of primary shape plastics dropped by a slight 0.5% on year to 1.9m tonnes in October.

Imports of both polyester chips and rubbers were on the increase in October.

October’s overall imports rose by 7.6% on year to $154.2bn (€114.1bn), while exports increased by 5.6% to $185.4bn, leading to a trade surplus of approximately $31.2bn in the month, the data read.

The October trade surplus more than doubled from September’s surplus at $15.2bn.

China's import and export data

Oct 2013

Jan-Oct 2013

 

'000 tonnes

chg % (yoy)

'000 tonnes

chg % (yoy)

imports

 

 

 

 

crude

20,410

-13.5

231,620

3.4

oil products

2,920

-8.8

33,380

3.8

primary shape plastics

1,910

-0.5

20,020

2.1

ABS resins

135

2.7

1,376

-2.0

polyester chips

15

27.2

160

2.6

natural rubber

190

11.8

1,860

6.1

synthetic rubber

131

4.3

1,252

4.5

exports

crude

110

-68.6

1,430

-35.9

oil products

2,410

31.7

23,760

21.1

plastic products

765

6.8

7,345

4.2

Source: China Customs

($1 = €0.74)


By: Fanny Zhang
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly