The import of mineral fuels, oils, and distillation products to China has shown a significant variability over the past decade. Starting from 2013 to 2023, the market exhibited fluctuations with substantial declines in certain years like 2015 and 2016, followed by recovery phases. By 2023, the import value stood at 379.88 billion US dollars, reflecting a year-on-year growth of 3.36%. The average annual growth (CAGR) over the last five years is 1.78%. Forecasts suggest a consistent upward trend with an anticipated average annual growth rate (CAGR) of 2.46% and an overall forecasted growth rate of 12.94% by 2028.
Future trends to watch for include potential impacts of global energy market dynamics, changes in Chinese industrial consumption patterns, and ongoing shifts towards renewable energy sources which could influence import volumes and values.
