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Growth of China's energy imports slows in Jan-Nov 2008

(Xinhua)
Updated: 2009-01-05 11:25

China imported 240 million tons of major energy commodities (oil, refined products, natural gas and coal) in the first 11 months of 2008, up 3.7 percent year-on-year, according to a report released on Sunday by the General Administration of Customs.

These imports were valued at $158.6 billion, up 74 percent, and they accounted for 14.9 percent of total imports for the 11 months.

High world coal prices turned China from a net coal importer to a net exporter. From January to November, China exported 2.86 million tons of coal, while its net imports reached 781,000 tons.

The sources of China's energy imports remained highly concentrated. For example, in the first 11 months of 2008, 55 percent of crude arrivals came from Asia and another 31 percent from Africa.