China Imports

Imports to China dropped by 0.4 percent to USD131.08 billion in May of 2016 while markets expected a 6.0 percent fall. It is the 19th straight month of contraction, as a result of declining commodity prices and weak demand. From January to May 2016, imports decreased by 10.3 percent year-on-year. Purchases from most of the country’s trading partners declined except Hong Kong, Vietnam and Brazil. Those from India fell by 18.3 percent, followed by Japan (-5.1 percent), South Korea (-11.3 percent), Taiwan (-2.7 percent), the ASEAN countries (-14.0 percent) and the EU countries (-5.2 percent). Purchases also dropped from the US (-12.8 percent), South Africa (-26.8 percent), Australia (-19.3 percent) and New Zealand (-0.2 percent). In contrast, imports rose from Hong Kong (+146.8 percent), Vietnam (+15.1 percent) and Brazil (+17.3 percent). Imports in China averaged 477.23 USD HML from 1983 until 2016, reaching an all time high of 1830.94 USD HML in March of 2013 and a record low of 16.60 USD HML in July of 1983. Imports in China is reported by the General Administration of Customs. China’s main imports are mechanical and electrical products (34 percent of total imports) and high tech goods (23 percent). The country is also one of the biggest consumers of commodities in the world. Among commodities the biggest demand is for crude oil (6 percent of total imports), iron ore (2 percent), copper and aluminum. Agricultural products account for 5 percent. China’s main import partners are: the European Union (12 percent of total imports, of which Germany accounts for 5 percent), ASEAN countries (12 percent, of which Malaysia accounts for 3 percent), South Korea (10 percent), Japan, Taiwan and the US (9 percent each) and Australia (4 percent). This page provides – China Imports – actual values, historical data, forecast, chart, statistics, economic calendar and news.