Imports to China slumped 16.7% yoy to USD 143.89 billion in May 2020, following a 14.2% fall in the prior month and compared to market expectations of a 9.7% drop, and marking the steepest decline since January 2016, due to deteriorating domestic demand. There were declines in imports of aluminium (-28.6%), the lowest since February 2019, due to a fall in demand of Chinese metal. Also, imports of copper concentrate fell by 8.1% while those of coal dropped nearly 20% even as demand recovered at power plants and industrial users. Meantime, imports of iron ore rose (3.9%), amid high prices. Still, there were decreases in demand from the previous month, with iron ore falling by 9% to 87.03 million tonnes from 95.71 million tonnes. On the other hand, imports of unwrought copper increased by 20.8% yoy, but was down 5.5% from April, the lowest monthly total since last October. Meanwhile, imports of crude oil jumped 19.2% yoy, to the highest monthly level on record.
Imports in China averaged 562.78 USD HML from 1981 until 2020, reaching an all time high of 1951.34 USD HML in September of 2018 and a record low of 13.88 USD HML in February of 1983. This page provides - China Imports - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Imports - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: General Administration of Customs
Imports in China is expected to be 1430.00 USD HML by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in China to stand at 1750.00 in 12 months time. In the long-term, the China Imports is projected to trend around 1800.00 USD HML in 2021, according to our econometric models.