The import value of refined copper and copper alloys to China over the past decade shows significant fluctuations. After peaking in 2014 at $25.501 billion, it experienced a decline until 2016, reaching $18.118 billion. A recovery followed, with imports rising to $20.629 billion in 2017 and $25.638 billion in 2018. The period from 2019 to 2020 saw minor fluctuations, stabilizing around $24 to $25 billion. In 2021 and 2022, the imports grew to $26.517 billion and $27.249 billion, respectively. In 2023, the imports stood at $27.966 billion, reflecting a steady growth trajectory.
Year-on-year variation analysis for the last two years shows a growth of 2.76% from 2021 to 2022 and 2.63% from 2022 to 2023. Over the last five years, the compound annual growth rate (CAGR) averaged at 1.75%. The forecasted CAGR from 2024 to 2028 is 1.98%, indicating steady growth, with the value expected to reach $31.711 billion by 2028.
Future trends to watch for include the impact of global economic conditions on copper demand and supply, China's industrial policies affecting copper imports, and technological advancements in industries utilizing copper. Continued monitoring of these factors will provide a comprehensive understanding of future market trends.
