China Imports Rise for 6th Month

China’s imports surged 36.0% year-on-year to a record $286.76 billion in June 2026, outpacing forecasts of 24% and marking the fastest growth since June 2021, as soaring chip prices and global demand for AI data center hardware boosted trade across Asia. Easing Middle East tensions and improved supply chains also supported import growth. Natural gas imports rose to a five-month high of 10.93 million tons, and coal shipments jumped 30% after mine safety crackdowns restricted domestic supply. Copper imports rose 3.1%, and iron ore imports climbed 6.4% to the year’s highest, driven by pre-year-end shipments from Australia. Soybean imports increased 11% to a 13-month high on arrivals from both Brazil and the US. Crude oil purchases, however, plunged 41% to the lowest since October 2016, due to the Iran war. Imports grew sharply from South Korea (85.0%), Taiwan (41.1%), Australia (65.8%), ASEAN (26.8%), and Japan (33.9%). In the first half of 2026, imports rose 26.6% to $1.55 trillion.

China’s imports soared 27.4% yoy to USD 271.35 billion in May 2026, accelerating from a 25.3% growth in April and topping market forecasts of 25%. It was the 12th month of growth in purchases, boosted by solid domestic demand despite rising cost pressures from supply chain disruptions and elevated energy costs due to the war in the Middle East. A relatively low base from a year earlier also helped lift the annual pace of expansion. Over the first five months of the year, imports jumped 24.5% to USD 1,261.69 billion, buoyed by robust demand from ASEAN (21.0%), the EU (8.6%), Japan (27.8%), Hong Kong (173.2%), and South Korea (56.5%), but fell from the U.S. (-5.5%). Imports of ADP equipment surged 65.1%, while purchases of semiconductors and circuits each rose 11.5% and 52.1%. Volume increases were seen for edible oils (24.2%), copper ore (36.7%), refined oil (6.74%), rare earths (40.6%), and unwrought copper (26.1%), but dropped for natural gas (-10.1%), coal (-2.9%), and steel (-8.5%).

China’s imports surged 25.3% yoy to USD 274.62 billion in April 2026, marking the second straight month of record-high purchases. While easing from a 27.8% jump in March, the latest result still comfortably exceeded market forecasts of 15.2%, lifted by firm domestic demand despite rising inflationary pressures from supply chain disruptions in the Strait of Hormuz and elevated energy costs. Over the first four months of the year, imports jumped 23.6% to USD 989.2 billion, boosted by higher demand from ASEAN (19.1%), the EU (11.5%), Japan (27.5%), Hong Kong (204.0%), and South Korea (49.5%); but fell from the U.S. (-10.9%). Imports of data processing equipment surged 60.6%, while purchases of semiconductors and integrated circuits each rose by 13.2% and 47.8%, respectively. Volume increases were seen for edible oils (25.9%), copper ore (36.9%), refined oil (14.4%), rare earths (93.3%), and unwrought copper (21.4%), but dropped for natural gas (-15.1%), coal (-5.9%), and steel (-7.8%).