China's energy imports grow slower in Jan-Nov '08

China imported 240 million tonnes of major energy commodities (oil, refined products, natural gas and coal) in the first 11 months of 2008, up 3.7 percent year-on-year, according to a report released on Sunday by the General Administration of Customs.

The growth rate was 9.7 percentage points below the year-earlier level.

These imports were valued at 158.6 billion U.S. dollars, up 74 percent, and they accounted for 14.9 percent of total imports for the 11 months.

High world coal prices turned China from a net coal importer to a net exporter. From January to November, China exported 2.86 million tonnes of coal, vs. net imports of 781,000 tonnes.

The sources of China's energy imports remained highly concentrated. For example, in the first 11 months of 2008, 55 percent of crude arrivals came from Asia and another 31 percent from Africa.