The amount of LPG imports in China and the development trend of LPG imports
Full text statistical caliber explanation: The LPG tariff codes queried in this article include 27111990 (unlisted liquefied petroleum gas and other hydrocarbon gases).
The import quantity of LPG first decreased and then increased:
According to the General Administration of Customs' query on tariff code 27111990 (unlisted liquefied petroleum gas and other hydrocarbon gases), the import quantity of LPG in China has been continuously declining from 2019 to 2021 due to the impact of the epidemic, reaching a low point in recent years in 2021-2022. In 2023, the import quantity rebounded slightly, about 6773 tons, a year-on-year increase of over 800%.
The import amount of LPG has rebounded:
The import amount also showed a trend of first decreasing and then increasing. From 2017 to 2020, the amount of LPG imports in China fluctuated and declined, with 2021 being the lowest point in recent years at only 160000 US dollars. The import amount will continue to rise from 2022 to 2023, reaching approximately 4.15 million US dollars by 2023, a year-on-year increase of 712%.
The main sources of LPG imports are Oman and Russia:
From the perspective of imported product sources, in 2023, the main sources of LPG imports in China will be Oman and Russia, with Oman accounting for about 60%, Russia accounting for about 40%, and other regions accounting for less than 1%.
The average import price of LPG fluctuates and rises:
In terms of average import price, the average import price of LPG from 2017 to 2023 fluctuated within the range of 0.4-0.7 US dollars per kilogram. Since 2022, the average import price has shown an upward trend, reaching approximately 0.61 US dollars per kilogram in 2023.
LPG import characteristics:
In recent years, China has formed a diversified supply pattern consisting of domestically produced gas and imported gas, with imported gas mainly consisting of pure propane or pure butane, providing the market with more flexible and diversified choices. Based on the above analysis of LPG imports, China's LPG imports are characterized by a relatively concentrated source of imports, significant impact from the epidemic, and import prices linked to international crude oil prices.
