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Chinese Products Exports Plunged in December

OIL PRODUCTS

Chinese gasoline exports in December declined by 59.9% year on year to 770k tons, while diesel exports plummeted by 76% year on year to 670k tons last month, General Administration of Customs data showed, cited by Bloomberg, likely because export quotas ran low toward the end of the year.

  • China’s total gasoline exports last year fell by 2.3% to 12.28mn tons, while diesel exports rose by 26% on the year to 13.77mn tons.
  • December jet fuel exports fell by 11.2% to 1.53mn tons, with exports for all of last year rising by 45.3% to 15.85mn tons.
  • On the import side, total oil products imports rose by 45.3% in December, and by 80.3% to 47.69mn tons for all of last year.
  • Naphtha imports fell by 25.1% in December. Imports rose by 37.2% on the year to 12.71mn in 2023.
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