BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/29
Foreign trade picked up in June. Exports were up 3 % y o y, while the slide in imports was only 6 %. June crude oil imports reached nearly 30 million metric tons, up 27 % y-o-y. Stocking of the country’s strategic reserves partly explains the surge in oil imports. Imported oil volumes were up 8 % y-o-y in the first half. The import price of oil in the first half of the year averaged about 30 % less than in 2014.
Value of China’s foreign trade
Source: Bloomberg