What are China's main imports and exports

China's imports are increasing significantly

The first official figures on imports for this year, published by the Beijing Ministry of Agriculture, are now available. Accordingly, in January and February 2019 the import of pork including by-products increased by around 19,000 t or 10.1 percent to 207,040 t compared to the same period in the previous year. The increase in import expenditure was weaker by 4.3 percent to 365 million US dollars (325 million euros). Since demand picked up again strongly in March and April, according to analysts, higher rates of increase are to be expected for this period.

It is noticeable that Chinese beef imports grew much faster and were even higher than for pork during the period under review. According to the ministry, a total of 209,880 tons of beef was imported; that was 74,150 t or a good half more than in the first two months of 2018.

The reason for this is probably that the consumers in the People's Republic, unsettled by the African swine fever (ASF), are increasing their consumption of other types of meat at the expense of pork and so the need for imports is growing. The importers spent 950 million US dollars (847 million euros) on the international purchase of beef, which means that the import bill was a good 50 percent higher than in the previous year.

Poultry meat was one of the much more popular products, the import volume of which increased by 37.1 percent to 82,500 t compared to January and February 2018. In addition, at 67,360 t, 19.4 percent more sheep meat was imported. Overall, the purchase volume of meat increased by 17.3 percent to 739,950 t compared to the same period in the previous year, with the import value increasing by 23.7 percent to 2.10 billion US dollars (1.87 billion euros).

According to the Chinese foreign trade statistics, the import of milk powder also showed a high growth rate of 26.0 percent to 365,470 t; Overall, dairy imports increased by 16.6 percent to 623,040 t. In the case of soybean imports, however, the trade conflict with the USA and the falling pig populations had an impact: compared to the first two months of 2018, imports fell by 2.07 million t or 14.9 percent to 11.83 million t . In addition, the import of grain products fell by 15.7 percent to 16.1 million t.

The currency information is based on an exchange rate of 1 US dollar = 0.8892 euros.
Source: fleischwirtschaft.de; AgE