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Economy in Brief

Chinese Imports of Crude Petroleum and Petroleum Products:  A Comparison between Two Data Sources
by Louise Curley July 11, 2005

Data on the volume and value of Chinese imports of crude petroleum and petroleum products were released today by CEIC, a private organization based in Hong Kong that publishes a vast amount of data on China. In its new data base--CHINA--Haver lists some 125,000 data series that CEIC publishes.

According to these data, the volume of Chinese imports of crude petroleum shows some signs of peaking, but with rising prices, the value is still on a sharp upward trend. The volume and value trends of petroleum products are more muted than those of crude petroleum . The first chart shows the value of imports of crude petroleum and petroleum products while the second chart shows the volume of imports of each.

The CEIC data are available a week to ten days before the official data shown in EMERGEPR and while the CEIC data do not equal the official data exactly, they are a good approximation as can be seen in the third chart, which compares the value of imports of crude petroleum and petroleum products in the EMERGEPR data base with the sum of these two items in the CHINA data base.

CEIC DATA Jun 05 May 05 Jun 04 M/M% Y/Y%  2004    2003  2002
Value of Chinese Imports (Millions of US$)                
  Crude Petroleum 3884.6 3883.1 3062.7 0.04 26.84 33913 19824 12761
  Petroleum Products 935.5 659.8 902.5 41.79 3.67 9241 5875 3802
Volume of Chinese Imports (Thousands of Tonnes)                 
  Crude Petroleum 11120 10410 11270 6.82 -1.33 122830 91130 69240
  Petroleum Products 2920 1970 3820 48.22 -2356 37860 28230 20350
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