Imports to China tumbled 10.2% from a year earlier to USD 389.42 billion in January-February 2023, compared with market consensus of a 5.5% fall and after a 7.5% drop in December. Purchases have declined for a fourth consecutive month amid weak domestic demand, lower commodity prices, and a stronger dollar. The latest import decrease has also reflected weak foreign demand since the country brings in parts and materials for many of its exports from abroad. By commodity, purchases were down for crude oil (-1.3%), natural gas (-9.4%), unwrought copper (-9.3%), and steel products (-44.2%). On a brighter note, imports went up for refined products (14.4%), copper ores & concentrates (11.7%), coal (70.8%), iron ore (7.3%), soybeans (16.1%), edible veg oil (86.9%), rubber (10.8%), and meat (21.2%). Among major trade partners, imports plunged from the US (-5%), the EU (-5.5%), Japan (-23%), and ASEAN (-8.3%). Conversely, arrivals from Russia, primarily oil and gas, jumped 31.3%. source: General Administration of Customs
Imports YoY in China averaged 14.59 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 March of 2023.