China 2013 crude imports hit new high, growth decelerates

10 January 2014 07:19  [Source: ICIS news]

SINGAPORE (ICIS)--China’s imports of crude oil rose by 4% to a hit a new high of around 282m tonnes in 2013, preliminary data from China Customs showed on Friday.

This is a drop from the 6.8% year-on-year growth seen in 2012, the data showed.

China’s crude imports in December, meanwhile, surged by 13.1% on year to 26.78m tonnes, it showed.

Further downstream, the country’s imports of primary shape plastics increased by 3.9% to 24.6m tonnes in 2013, while that of ABS resins rose marginally by 0.2% to 1.7m tonnes last year, it said.

Imports of polyester chips rose by 3.3% to around 189m tonnes, the data showed.

Last year, the world’s second-largest economy registered a 7.6% gain in foreign trade, posting a 7.9% expansion on exports and 7.3% rise on imports. Its trade surplus in 2013 was about $260bn, up from $231bn in the previous year.

Dec 2013

Jan-Dec 2013

'000 tonnes

chg % (yoy)

'000 tonnes

chg % (yoy)

imports

crude

26,780

13.1

281,950

4.0

oil products

3,380

-18.8

39,590

-0.6

primary shape plastics

2,350

14.1

24,620

3.9

ABS resins

146

12.2

1,671

0.2

polyester chips

15

17.7

189

3.3

natural rubber

350

66.7

2,470

13.5

synthetic rubber

140

14.3

1,527

6.1

exports

crude

90

12.5

1,620

-33.5

oil products

2,640

5.6

28,510

17.5

plastic products

816

2.8

8,964

5.3

Source: China Customs


By: Fanny Zhang
+65 6780 4359



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