Import Data News
- Crude imports climb on thirsty demand
Date: 12-Jan-2007 Sources: (Xinhua Online)
China's crude oil imports rose 14.5 percent year on year to 145.18 million metric tons in 2006, or 2.9 million barrels per day, due to rising domestic demand, customs figures showed yesterday.
In December, the country imported 11.56 million tons of crude, up 2.6 percent from a year earlier, according to the Website of China's General Administration of Customs.
Crude exports remained tiny in 2006 at 6.34 million tons, 21.4 percent less than a year earlier.
A Shanghai-based analyst said the government chose to import more in the second half as international prices have been falling since July from record level.
'For 2007 and years to come, I think the imports (for crude oil) will remain big. A sizable domestic demand has to be met by imports for a long run,' said the analyst, who asked not be named. 'The government will also import to fill its reserve tanks when prices are low.'
In November, China's monthly crude imports surged to a record 13.5 million tons, up nearly a third in annualized terms and just beating September's 13.46 million tons.
Among the crude imports, 1.74 million tons were made via China's only cross border crude pipeline, which in July started piping oil to Xinjiang Uygur Autonomous Region from Kazakhstan, according to Xinjiang authorities.
China's imports for oil products, such as diesel and gasoline, rose 15.7 percent to 36.38 million tons last year, Oil product exports fell 11.9 percent to 12.35 million tons.
Among 2006 trade figures for other key commodities announced yesterday, steel product exports surged 109.6 percent to 43 million tons while coal exports dropped 11.7 percent to 63.3 million tons.
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