On June 7, the General Administration of Customs announced my country’s foreign trade bulletin data from January to May. According to the simple calculation of official figures, RMB-denominated goods trade increased by 27.9% year-on-year from January to May, and increased by 21.9% compared with 2019; the value of foreign trade denominated in US dollars increased by 29.5% compared with the same period in 2020. Compared with the same period in 2019, it increased by 27.2%. Among them, exports denominated in RMB increased by 29.7% year-on-year in 2020 and 23.7% year-on-year in 2019; in U.S. dollars, exports increased by 31.6% year-on-year in 2020 and 29.1% year-on-year in 2019; imports were denominated in yuan, an increase of 25.8% year-on-year , An increase of 19.9% year-on-year in 2019; in U.S. dollars, imports increased by 27% year-on-year in 2020 and 24.9% year-on-year in 2019.

china cargo ship

For the shipping industry, we need to pay attention to the changes in China's import and export volume.

1. Energy import and export maintain growth

Normally, the import and export volume in May is not the peak, but the import and export of China's main energy products have changed from January to May.
China's foreign trade in the first five months provided these supports for shipping. The first five months of China's foreign trade provided these supports for shipping.

china cargo ship

● Cumulative crude oil imports hit a new high. From January to May, China imported 220.56 million tons of crude oil, an increase of 2% over the same period in 2020 and an increase of 8% over the same period in 2019. According to statistics, about 17.6% of the imported crude oil from January to April is advanced to bonded warehouses or bonded areas/port areas after arriving in Hong Kong. This proportion has increased from 12.8% in 2017 to 19.1% in 2020, indicating that the domestic crude oil trade is more flexible and diverse.

 ● Natural gas imports hit the highest record in the same month in history. Imports of natural gas reached 10.323 million tons in May, and a total of 4.99 million tons of natural gas were imported from January to May, an increase of 24% over the same period in 2020 and an increase of 26% over the same period in 2019. Although the customs has not announced the distinction between LNG and pipeline gas, it is inferred based on the figures for the first four months that the import of LNG from January to May is about 33.05 million tons, an increase of 30% from the 25.48 million tons in the same period in 2020.

 ● The import and export of refined oil products are differentiated. With the improvement and expansion of China's oil refining capacity, the volume of refined oil imports this year has continued to decline. Calculated in 5 months, this year is only 10.384 million tons, while the corresponding period in 2020 and 2019 will be 13.339 million tons and 14.787 million tons respectively. However, refined oil exports have grown steadily. In the first five months of 2016-2021, refined oil exports were 17.25 million tons, 19.50 million tons, 25.55 million tons, 27.92 million tons, 29.908 million tons and 3091.92. Million tons.

 ● Coal imports were slightly disappointed. Only 21.04 million tons arrived in Hong Kong in May, and the cumulative imports from January to May were 111.23 million tons, a decrease of 25% over the same period in 2020 and a decrease of 13% over the same period in 2019.


China's foreign trade in the first five months provided these supports for shipping. The first five months of China's foreign trade provided these supports for shipping.

china cargo ship

2. Import and export of raw materials hit a new high

● Iron ore has never disappointed shipping people. Although the import volume in May was only 89.79 million tons, the cumulative imports from January to May were 472 million tons on the basis of last year's record level, an increase of 6% over the same period in 2020 and an increase of 11% over the same period in 2019. Due to the popularity of iron ore supermarkets, ore blending, and spot trading, about 6-9% of China’s iron ore imports are imported into bonded areas or customs supervision.china cargo ship

● Copper mine imports also performed well. A total of 9.825 million tons were landed from January to May, an increase of 6% over the same period in 2020.

 ● Food imports are very eye-catching. Soybean imports from January to May reached 38.234 million tons, an increase of 13% and 20% respectively over the same period in 2020/2019; imports of grains (corn, barley, wheat, sorghum, etc.) were 28.439 million tons, compared to only 28.439 million tons in the same period last year. 11.923 million tons, which is even less in the first five months of 2019, only 7.878 million tons.

 China's foreign trade in the first five months provided these supports for shipping. The first five months of China's foreign trade provided these supports for shipping.

china cargo ship

3. The import and export of groceries recovered rapidly

● The import and export of steel products are booming. Imports in the first five months reached the peak of 6.09 million tons in recent years, while exports were the highest value since 2017, reaching 30.017 million tons, an increase of 11% over 2019 (46.33 million tons of steel exported in the first five months of 2016).

 ● Copper imports hit a historical peak. Copper imports in the first five months reached 2.367 million tons, an increase of 22% and 8% over 2019 and 2020, respectively.

 In addition, the import of primary plastics was 14.745 million tons, basically returning to the level of 2019 (14.906 million tons); the import of wood and sawn timber was 34.244 million cubic meters, exceeding the same period in 2020, but still less than the 40.527 million cubic meters in the same period in 2019.
China's foreign trade in the first five months provided these supports for shipping. The first five months of China's foreign trade provided these supports for shipping.

china cargo ship

4. Imports and exports of some refrigerated goods and equipment goods have increased significantly

● Meat imports have grown rapidly. China has imported a large amount of meat since 2019. From January to May this year, the import volume reached 4.329 million tons, an increase of 13% over the same period last year, and an increase of about 40,000 boxes of imported refrigerated goods.

 ● The export of mechanical and electrical products has grown by leaps and bounds. From January to May, exports of mechanical and electrical products reached 73.67 billion U.S. dollars, an increase of 31% and 79% over 2019 and 2020, respectively; the export value of high-tech products (partially duplicated with mechanical and electrical products exports) reached 36.15 billion U.S. dollars, respectively compared with 2019 And 2020 will increase by 31% and 35%.

A large number of exports have caused a shortage of containers in the United States and Europe concentrated in Hong Kong and the Far East. Taking the Port of Los Angeles and Long Beach in the US as an example, the two ports handled a total of 6.662 million TEUs from January to April, of which 3.34 million TEUs were imported for heavy containers and 2.299 million TEUs for empty containers were exported. The same period in 2019 (the highest value) increased by 24%, 27% and 45%.


china cargo ship