Imports to China declined by 4.5% yoy to USD 217.69 billion in May 2023, compared with market expectations of an 8.0% drop and following a 7.9% decrease a month earlier. This was the third straight month of falling purchases, amid weak domestic demand. Purchases of copper were down 4.6% yoy after declining 12.5% in April and imports of steel fell 22%. Conversely, purchases of crude oil surged 12.2% to 12.11 million bpd, the third-highest monthly level on record and increases were also seen for iron ore (4%), coal (92.6%), natural gas (17.3%). Purchases of soybeans jumped 24% to hit a record of 12.02 million tonnes as cargoes delayed during last month's strict inspections were finally unloaded at ports. Imports from the US sank 9.9% while those from the EU plummeted 38.6%. By contrast, purchases from Russia rose 10.1%. Considering the first five months of the year, imports were down by 6.7% from the same period in 2022. source: General Administration of Customs
Imports YoY in China averaged 14.38 percent from 1991 until 2023, reaching an all time high of 85.50 percent in January of 2010 and a record low of -43.10 percent in January of 2009. This page includes a chart with historical data for China Imports YoY. China Imports YoY - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.