As a result of poor domestic demand and ongoing trade concerns with the United States, imports into China declined by 2.7% in 2019, marking the first annual decline in three years. Machinery and transport equipment accounted for 38% of total imports, led by electrical machinery, apparatus, and appliances 21%, road vehicles 4% telecommunications, and sound recording and reproducing apparatus and equipment 3%, and office machines and automatic data processing machines 3%. Other important categories included: mineral fuels, lubricants, and related materials 17%, petroleum, petroleum products, and related materials 13%, as well as natural and manufactured gas 3%, crude materials, inedible, except fuels 14%, which included metalliferous ores, metal scrap 9%, and chemicals and related products 11%, due to organic chemicals 3%, manufactured miscellaneous items 7%; manufactured goods categorized mostly by material 7%, food and live animals 4%. The European Union (the biggest source of income) accounted for 13% of total imports, with Germany 5% and France 2%, along with South Korea, Taiwan, Japan (8% each), the United States and Australia (both 6%), Brazil 4%, Malaysia, Vietnam, Russia, and Saudi Arabia (3% each), Thailand, Singapore, and Indonesia (2% each).
A higher than expected figure should be seen as positive (bullish) for the CNY while a lower than expected figure should be seen as negative (bearish) for the CNY.
