Imports to China unexpectedly fell by 2.1 percent year-on-year to USD 176.3 billion in August of 2020, missing market expectations of a 0.1 percent gain and following a 1.4 percent drop a month earlier. This was the second straight decline in imports, due to weak domestic consumption. Compared to the previous month, imports fell for major commodities including crude oil, iron ore and soybeans. Imports of copper were down 12.3 percent from a record high in July, but were still up by 65.5 percent from a year earlier. Imports of crude oil were 47.48 million tonnes in August, down from a record high in July but increased 12.6 percent from a year earlier. Iron ore imports fell 10.9 percent to 100.36 million tonnes, easing from a record high on fewer shipments from big miners and port congestion, but were still 5.8 percent higher over a year earlier. Purchases from the US went up 2 percent to USD 10.5 billion and those from the European Union plunged 29.7 percent.
Imports in China averaged 571.98 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 September of 2020. source: General Administration of Customs
Imports in China is expected to be 1730.00 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 1900.00 USD HML in 2021 and 1920.00 USD HML in 2022, according to our econometric models.