Imports to China climbed 16.3 percent from a year earlier to USD 190.86 billion in December 2019, the most since October 2018 and way above market forecasts of a 9.6 percent jump, boosted in part by higher commodity prices. Unwrought copper imports rose 22.8 percent to their highest since March 2016 and iron ore purchases were 16.9 percent higher at 27-month high. Imports also advanced for refined products (9.9 percent), crude oil (3.9 percent), natural gas (3 percent), copper ores & concentrates (31.8 percent), soybeans (66.8 percent), edible vegetable oil (21.8 percent), and rubber (9.1 percent). In addition, purchases of pork rose almost four times from a year earlier ahead of Lunar New Year holidays. On the other hand, arrivals fell for both coal (-77.8 percent), and steel products (-85.3 percent). Considering the whole year, imports fell 2.8 percent on weak domestic demand, after rising 15.8 percent in 2018. Imports in China averaged 554.23 USD HML from 1981 until 2019, 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. source: General Administration of Customs
Imports in China is expected to be 1600.00 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 1740.00 in 12 months time. In the long-term, the China Imports is projected to trend around 1800.00 USD HML in 2020, according to our econometric models.