", For Mr. Trump, a key concern is whether the escalating conflict could lead to a further reduction in Chinese purchases of U.S. crops, a potentially serious blow for American farmers. The president said U.S. tariffs on $250 billion in Chinese imports will increase from 25% to 30% on October 1. In 2019, China imported approximately 2.1 trillion yuan worth of integrated circuits, around 2.4 percent more than in the previous year. I got my M.S. In, National Bureau of Statistics of China. The People’s Republic of China imported US$2.069 trillion worth of goods from around the globe in 2019. This helps explain why China is highly active in heavily oil- and gas-resourced Africa, the Middle East, Canada, and South America. National Bureau of Statistics of China. But, what is not so commonly known is that China is now the largest oil and natural gas importer. All Rights Reserved, This is a BETA experience. This statistic is not included in your account. In 2019 imports to China fell 2.7 percent, the first yearly decline in three years, on weak domestic demand and persistent trade tensions with the US. Market data provided by ICE Data Services. "This is a GREAT opportunity for the United States.". Slowing growth? "China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated! February 28, 2020. China’s LNG imports boomed a whopping 40% in 2018, amazing considering that at ~6.6%, the country’s economic growth was the lowest since 1990. © 2019 CBS Interactive Inc. All Rights Reserved. ", National Bureau of Statistics of China, Main goods imported to China in 2019 (in billion yuan) Statista, https://www.statista.com/statistics/257035/main-export-goods-from-china/ (last visited November 12, 2020), Leading global merchandise importers 2019, by importing nation, Share of the leading merchandise importers worldwide 2019, by importing nation, Share of imports in gross domestic product (GDP) in China 2009-2019, Annual growth rate of imported goods in China 2009-2019, Import of goods to China 2019, by broad category, Import of commercial services to China 2009-2019, Commercial service import breakdown by category in China 2019, China's main import partners 2019, by import value, Export value in the ASEAN region to China 2005-2018, South Korea: value of goods exported to China since FTA 2015-2019, Taiwan's exports to mainland China 2009-2019, Value of exports from Japan to China 2008-2018, Value of the leading U.S. exports to China 2019, by commodity, Import volume of crude oil to China 2009-2018, Import value of rolled steel in China 2009-2018, Value of medical equipment imports to China 2008-2019, Market share of soybean suppliers to China 2019, by country, Import of goods to Japan from the Philippines 2009-2018, Import of goods to China from Brunei Darussalam 2005-2019, Import of goods to China from Indonesia 2005-2019, Import of goods to Japan from Cambodia 2009-2018, Import of goods to Japan from Vietnam 2009-2018, Import of goods to Japan from Indonesia 2009-2018, Import of goods to China from Myanmar 2005-2019, Import of goods to China from Vietnam 2005-2019, Import of goods to China from Thailand 2005-2019, Import of goods to Japan from Malaysia 2009-2018, Import of goods to China from the Philippines 2005-2019, Import of goods to China from Malaysia 2005-2019, Import of goods to China from Cambodia 2005-2019, Import of goods to Japan from Laos 2009-2018, Import of goods to Japan from Myanmar 2009-2018, Value of major import commodities Bahrain 2014-2016, Value of domestic apparel products exported from Hong Kong 2008-2017, Georgia's leading 10 export destinations 2007-2011, based on export value, Mineral fuel and lubricants export value from Japan to the EU 2016-2019, Raw materials import value to Japan from Europe 2018, by region, Automotive Industry in China: Imports and Exports, Main goods imported to China in 2019 (in billion yuan), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. In 2019, China imported approximately 2.1 trillion yuan worth of integrated circuits, around 2.4 percent more than in the previous year. August 24, 2019 / 9:51 AM Gas demand in particular has huge potential because this cleaner modern fuel still only accounts for just 7-9% of China’s total energy demand, well below the 30% gas holds in the fully developed nations like the U.S. News provided by The Associated Press. In 2019, 55% of China’s crude oil imports came from countries within the Organization of the Petroleum Exporting Countries (OPEC), the smallest share since at least 2005. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Two years ago, the Chinese government announced that third parties could negotiate prices and gain access to both pipelines and LNG import terminals. President Trump tweeted on Friday that his administration will boost tariffs on $550 billion in Chinese imports in retaliation for China's decision on Friday to hike trade levies on $75 billion in U.S. products. Navarro downplays consumer impact of Chinese ... hike trade levies on $75 billion in U.S. products. Number of Starbucks locations worldwide 2003-2019, Market share of leading carbonated beverage companies worldwide, Revenue and financial key figures of Coca-Cola 2009-2019, Profit from additional features with an Employee Account. China’s exports rose only 0.5 per cent in US dollar terms in 2019, a sharp deceleration from a rise of 9.9 per cent in 2018, according to data released on Tuesday. Tacking on an additional 5% in duties on $550 billion in Chinese imports amounts to a roughly $27 billion tax spread out among American consumers. facts. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Directly accessible data for 170 industries from 50 countries The two now account for 45% of all LNG imports but a nuclear re-start program will drop Japan further down the LNG list. Please do not hesitate to contact me. ICE Limitations. Register in seconds and access exclusive features. "The administration's approach clearly isn't working, and the answer isn't more taxes on American businesses and consumers. Powered and implemented by FactSet. Just like Vladimir Putin and OPEC, the Chinese know that our unrealism works greatly to their advantage, as U.S. and global demand continue to mount. Trade: In July 2020 the top exports of China were Telephones ($14.8B), Computers ($13.4B), Other Cloth Articles ($6.92B), Integrated Circuits ($5.89B), and Light Fixtures ($3.84B). "Main goods imported to China in 2019 (in billion yuan)." Per capita, for instance, the Indians use just 1/5 of the electricity that the Chinese do. ASEAN and the European Union countries were China’s most important import trade partners, with imports worth approximately 1.95 billion yuan and 1.91 billion yuan respectively in 2019. ", Rick Helfenbein, CEO of the American Apparel & Footwear Association, complained that the White House's approach amounts to a "1930s trade strategy," saying that it "will be a disaster for American consumers, American businesses and the American economy. A conservative estimate is at least a doubling in LNG imports alone by 2030. in Homeland Security from San Diego State University, with a focus on Energy Security, and an MBA from St. Francis University, with a focus on Energy Economics. As a Premium user you get access to background information and details about the release of this statistic. "Main Goods Imported to China in 2019 (in Billion Yuan). More broadly, economists say that sharply higher tariffs on Chinese goods could raise prices for consumers on everything from phones and video consoles to apparel and shoes. Mr. Trump also said he was "ordering" U.S. businesses to "immediately start looking for an alternative to China," including bringing their manufacturing back to the U.S. © 2020 Forbes Media LLC. This in turn was likely to increase the risk of surplus supplies and weigh on the country’s import appetite. Although consuming nearly three times more gas in total, China’s LNG imports are still about 25% less than that of Japan. I cover oil, gas, power, LNG markets, linking to human development. Dhar expected a slowdown in Chinese coal-fired power growth to outpace a slowdown in domestic coal production over the next two years. “China accounts for [approximately] 20% of the world’s thermal coal imports, so a fall in China’s thermal coal import demand will weigh on seaborne thermal coal prices.”. Federal Reserve Chairman Jerome Powell and other policymakers warn that a prolonged trade war between the world's two largest economies could sap global growth. Merchandise trade balance of China 2009-2019, Value of imports into China by month 2017-2020, Number of cars imported into China 2009-2019. Legal Statement. 27/01/2020. )," Mr. Trump tweeted on Friday afternoon. Militias take aim at gun laws: "It's about shooting tyrants in the face", Live Updates: Biden names chief of staff as team takes shape, 6 Americans among 8 peacekeepers killed in helicopter crash, Whistleblower: VA failed to assess vets for traumatic brain injuries, Eta dumps torrents of rain Florida; man electrocuted, Watch Live: Officials nationwide give COVID updates as cases surge, Biden plans sweeping reversal of Trump's immigration agenda, Russia says vaccine 92% effective as 4 doctors who got it catch COVID, A first-hand look at ballot counting in Pennsylvania. You may opt-out by. Between July 2019 and July 2020 the exports of China have increased by $38.4B (22.3%) from $172B to $211B, while imports increased by $17.4B (11.2%) from $156B to $173B. By then, however, I do see India surpassing China as the driving force behind new consumption. Are you interested in testing our corporate solutions? Statista. National Bureau of Statistics of China. China imports 300m tonnes of coal in 2019 as prices tumble. As we unrealistically debate “the end” of oil and gas, the Chinese know that these fuels will remain indispensable for decades to come. I am Principal at JTC Energy Research Associates, LLC. Ron Klain to serve as Biden's chief of staff, Democrat Cal Cunningham concedes North Carolina Senate race, Georgia secretary of state announces hand recount of presidential race, Pentagon upheaval in Trump's final weeks in office. Since 2013 alone, China’s oil production has fallen nearly 15%, while its oil demand has risen 30% to ~13.8 million b/d. Main goods imported to China in 2019 (in billion yuan) [Graph]. China also likes to buy crude when prices are low to stockpile its security inventories, a “rainy day” supply that could currently cover about 80 days of imports. The Office of the U.S. Trade Representative said in a statement that the U.S. tariffs on $300 billion in goods from China will take effect at the higher rate in two phases as previously scheduled — one on September 1 and one on December 15.