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CHINA DATA: Australia is China's fourth highest gasoline export destination in Dec

Highlights

Gasoline exports to Australia rises 213.7% on year

Exports to Pakistan to continue growing in 2021

Singapore — China's gasoline exports to Australia shot up to 70,000 mt in December 2020, almost double the shipments in the same month a year earlier and marking a big spike from the zero cargoes in November, detailed data released by the General Administration of Customs showed on Jan. 21.

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The December shipments put Australia as the fourth largest importer of Chinese gasoline. China exported a total 185,000 mt of gasoline to Australia in 2020, up 213.7% from 2019.

Australia has ramped up its import of oil products due to lower domestic output after refinery closures. It now imports more than 60% of its gasoline and gasoil requirements from China, South Korea, India and other countries.

Over the Australia financial year July 2020 to June 2021, its refined oil import volume is forecast to jump to 785,000 b/d, a 22.6% year-on-year increase, according to the Australian Department of Industry, Science, Energy and Resources' estimates published in its quarterly report.

In addition to Australia, China's gasoline exports to Pakistan have also increased substantially to 437,000 mt in 2020, compared with zero a year earlier.

This is likely to continue in 2021 as the Pakistani government has mandated a ban on the import of gasoline with specifications below that of Euro 5 standard from August onwards, which China can offer a steady supply.

Despite these new outlets, China's gasoline exports slipped 2.3% year on year to 16 million mt in 2020. The drop could be attributed to the decline in outflow to Singapore, which fell 17.4% year on year to 8.065 million mt, from 9.77 million mt a year earlier.

GASOIL

China's gasoil exports fell 7.6% year on year to 19.765 million mt in 2020, an even larger quantum of decline than that of its gasoline exports, the GAC data showed.

Its exports to its Southeast Asian customers failed to make it to its list of top 10 export destinations, except for Malaysia.

Gasoil exports to Malaysia have seen a steady year-on-year increase of 184.1% to 1.07 million mt in 2020, extending from an annual growth rate of 66% in 2019.

Meanwhile, gasoil exports to Bangladesh have increased 22.8% year on year to 1.62 million mt in 2020, but was still lower from 2018.

Chile and the Netherlands are the only two outside Asia among China's top 10 export destinations, which have increased imports from China by 416% and 30.1%, respectively, year on year.

Top 10 destinations for China's gasoline, gasoil exports ('000 mt)

Gasoline:

Dec-20
Nov-20
Change
Dec-19
Change
Singapore
491
601
-18.2%
1,009
-51.3%
Philippines
364
147
147.5%
35
938.8%
Malaysia
183
195
-6.2%
268
-31.8%
Australia
70
0
N/A
35
99.7%
Indonesia
68
31
116.5%
106
-36.2%
Nigeria
63
35
81.7%
0
N/A
Pakistan
55
122
-55.2%
0
N/A
Thailand
43
22
95.8%
0
N/A
Sri Lanka
30
0
N/A
68
-56.6%
Vietnam
29
16
85.7%
50
-42.3%
Total*
1,449
1,257
15.3%
1,735
-16.5%

Jan-Dec 2020
Jan-Dec 2019
% Change
Singapore
8,065
9,769
-17.4%
Philippines
2,070
354
483.9%
Malaysia
1,659
1,429
16.1%
Mexico
730
1,087
-32.8%
Indonesia
447
983
-54.5%
Pakistan
437
0
N/A
UAE
434
306
41.7%
South Korea
312
599
-48.0%
Vietnam
309
402
-23.2%
Japan
285
278
2.3%
Total*
16,001
16,371
-2.3%

Gasoil:

Dec-20
Nov-20
Change
Dec-19
Change
Philippines
477
281
69.5%
248
92.1%
Hong Kong
295
361
-18.2%
238
23.9%
Bangladesh
250
169
48.1%
26
858.5%
Australia
146
512
-71.5%
311
-53.1%
Singapore
127
162
-21.4%
219
-42.0%
Ecuador
38
0
N/A
0
N/A
Panama
32
15
121.0%
15
120.5%
Myanmar
17
17
-3.8%
35
-53.1%
Vietnam
17
17
-1.8%
37
-55.7%
Liberia
12
7
76.7%
8
48.3%
Total*
1,488
1,921
-22.5%
1,632
-8.8%

Jan-Dec 2020
Jan-Dec 2019
% Change
Philippines
4,196
4,198
-0.1%
Singapore
2,858
3,213
-11.1%
Hong Kong
2,826
3,752
-24.7%
Australia
2,567
3,064
-16.2%
Bangladesh
1,620
1,319
22.8%
Malaysia
1,070
377
184.1%
South Korea
1,046
1,052
-0.6%
Chile
614
119
416.0%
Netherlands
578
444
30.1%
Thailand
446
1,175
-62.1%
Total*
19,765
21,389
-7.6%

Source: General Administration of Customs

Notes: *including exports to other countries