Top 12 Commodities Imported by China

2021-03-09 · Comments off

Since 1979, China’s import scale has grown rapidly, and it has become one of the world’s largest import trading countries, and the structure of imported goods has been gradually optimized. This post introduces a list of the most imported products in China. Including iron ore, crude oil, coal, natural gas, soybeans, dried fruits, plastics, refined oil, steel, rice, shrimp, etc. The following are 12 major commodities imported by China.
Top 12 Commodities Imported by China

The 12 Commodities Imported by China are:

1. Iron ore

In 2019, a total of 970 million tons of iron ore and its concentrates were imported, with a cumulative import value of 92.9 billion U.S. dollars. It is one of China’s largest imports. Iron ore is iron ore. Any ore that contains iron elements or iron compounds can be called iron ore; however, in industrial or commercial terms, iron ore not only contains iron components, but also must be used. Value is good. The main countries that China imports iron ore are Australia, Brazil, India, Russia, Ukraine, Kazakhstan, Canada, South Africa and other countries.

2. Crude oil

China imported 462 million tons of crude oil, an increase of 10.5%, ranking top three in China’s import commodity rankings. The average import price was 3273.5 yuan per ton, down 5.1%. Crude oil can be refined and processed to obtain a variety of fuel oil, solvent oil, lubricating oil, grease, paraffin, asphalt, liquefied petroleum gas, aromatic hydrocarbons and other products, providing fuel, raw materials and chemical products for various sectors of the national economy. The Middle East is the main region for China’s crude oil imports, accounting for 48% of the total imports, Africa accounting for 18%, Russia 16%, and South America 13%.

3. Coal

Imported coal, which ranks third in China’s import commodity list, had a total of 265 million tons of imported coal in 2019, an increase of 28.1 million tons from 2018, and the monthly average of 24.37 million tons of imported coal, showing an overall downward trend in the second half of the year. China’s coal imports are mainly concentrated in coastal provinces and cities such as East China and South China. The long distance between the southeast coastal area and the main producing area, the high transportation cost, and the high economy and practicability of imported coal have become an important supplement for power plants in the southeast coastal area. In recent years, the proportion of imported coal in China’s coal supply has continued to increase.

4. Natural gas

Natural gas is a high-quality, high-efficiency, green and clean low-carbon energy. It is one of China’s top ten imported commodities. In 2019, the cumulative import volume reached 87.11 million tons. At present, China’s natural gas production, supply, storage and marketing system is not complete, and the problem of unbalanced industrial development is more prominent. In general, China’s natural gas has good development prospects, but the overall quality of resources is deviated, and future development is facing huge challenges. Therefore, it is necessary to strengthen theory, Technical research, both conventional and unconventional gas, to promote the rapid development of China’s natural gas.

5. Soybeans

China’s total soybean imports in 2019 were 85.511 million tons, an increase of 0.5% year-on-year, which was the second peak in history. 2017 was the peak year of soybean imports. A total of 95.526 million tons of soybeans were imported that year. Although there were fewer trade frictions between China and the United States in 2018, 88.03 million tons were imported. Now the Ministry of Agriculture and Rural Affairs has implemented the soybean revitalization plan from 2019, increasing the soybean planting area by about 10 million mu, reaching 140 million mu by 2020. Nevertheless, soybean imports are still more than five times the domestic production.

6. Dried fruits

In 2019, the cumulative import volume was 42.27 million tons. Dried fruits are divided into split fruits and closed fruits. Most of them are rich in protein, vitamins, lipids and so on. There are many common dried fruits in our lives, such as chestnuts, castanea henryi, pili nuts, hazelnuts, cashews, walnuts, melon seeds, pine nuts, almonds, ginkgo, pistachios, peanuts, macadamia nuts, etc. These dried fruits not only have protein, vitamins, lipids, etc., but also have medical effects such as chestnut, hazelnut, and walnut. They can nourish the kidney, invigorate the spleen, strengthen the body, and benefit the stomach and liver.

7. Plastic

In 2019, the cumulative import volume of primary form plastics was 33.44 million tons, of which the import volume from January to June was 17.7 million tons, an increase of 10.9% year-on-year, and the import value was $26,366,616, a year-on-year decrease of 5.6%. At present, it can be divided into three categories according to use, which are general-purpose plastics: large output, wide use, good formability, and low price. It can also be subdivided into 5 varieties; engineering plastics: have good mechanical properties and high and low temperature resistance. , Good dimensional stability; special plastics: used in special fields such as aviation and aerospace.

8. Refined oil

China’s import of refined oil, one of the top ten commodities, has accumulated 27.25 million tons of imported oil in 2019. At present, refined oil can be divided into six categories: petroleum fuels, petroleum solvents and chemical raw materials, lubricants, paraffin wax, petroleum pitch, and petroleum coke. From January to November 2019, China imported 27.25 million tons of refined oil, a cumulative decrease of 10.6%, and the import value was 104,452.61 million yuan, a cumulative decrease of 13.6%. The export volume was 60.06 million tons, a cumulative increase of 13.9%, and the export value was 236621.3 million. Yuan, a cumulative increase of 12.1%.

9. Steel

According to data from the General Administration of Customs, from January to December 2019, China imported 12.304 million tons of steel products, a year-on-year decrease of 6.5%; the cumulative import value was US$14.11 billion, a year-on-year decrease of 14.1%. In 2019, China’s import regions are mainly concentrated in Asia and Europe, accounting for 90.1% and 9.1% respectively; the products are mainly plate, rod and wire and pipe, accounting for 83.9%, 9.6% and 2.6% respectively. Compared with 2018, while the total import volume remained stable in 2019, the amount of imports rose sharply, which had a great impact on the profits of the downstream steel manufacturing industry.

10. Copper

Although China is one of the countries with the richest copper products in the world, it still relies on foreign imports to a certain extent. In 2019, the cumulative import volume of unwrought copper and copper materials reached 3.972 million tons. From January to September 2018, China’s copper imports amounted to 421,841 tons; from January to September 2019, China’s copper imports amounted to 355,884 tons, a decrease of 15.6% compared to the same period; from January to September 2018, China’s copper imports amounted to 4,624,443 Thousands of U.S. dollars; from January to September 2019, China’s copper imports amounted to 3,966,551 thousand U.S. dollars, a decrease of 14.3% over the same period.

11. Rice

Although China is the world’s largest producer of rice, rice is still one of China’s largest imports. In 2018, it imported 3.08 million tons with an import value of 1.639299 million (USD); in 2019, China’s rice and rice imports were 255 tons, a cumulative decrease of 17.3%, and the import value was 894473 million, a cumulative decrease of 17.1%. At present, with the increase in China’s rice exports and the decrease in imported rice, China’s share in the international rice market has gradually recovered, which will benefit the improvement of domestic rice production capacity utilization.

12. Shrimp

In 2019, China’s shrimp imports amounted to 722,000 tons, with an import value of 4.47 billion U.S. dollars, an increase of 179.8% and 146.8% year-on-year respectively. In the same year, the U.S. shrimp imports amounted to 700,000 tons, with an import value of 6 billion U.S. dollars, and imports increased by 0.5% year-on-year. The value of imports fell by 0.4% year-on-year. Although the United States is still a major shrimp importer, the growth rate has slowed. China has surpassed the United States to become the world’s largest shrimp import market. Ecuador, India, Thailand, Vietnam, Argentina, Saudi Arabia, and Canada are China’s main shrimp importers.