China's Methanol (HS: 29051100) Latest Import and Export Analysis for 2023
“According to customs data, the total import and export trade volume from January to October 2023 amounted to $3.078 billion, showing a 15.34% decrease compared to the same period. The net export volume reached 11.96 million tons, indicating a 14% increase during the same period. Out of this, the export volume was 87.2 thousand tons, while the import volume was 1,187.24 million tons, resulting in a trade deficit.”
Methanol is a simple alcohol compound, also known as methyl alcohol or wood alcohol. Its chemical formula is CH3OH. Methanol is a colorless, odorless liquid that is flammable and miscible with water. As an important chemical raw material, methanol is widely used in downstream industries such as fertilizers, plastics, solvents, pharmaceuticals, energy, agriculture, chemicals, fibers, and textiles.
Although China is one of the world's largest methanol producers with significant production capacity, the country has maintained consistently high demand for methanol due to its rapid economic development and industrialization. According to customs data, the total import and export trade volume from January to October 2023 amounted to $3.078 billion, showing a 15.34% decrease compared to the same period. The net export volume reached 11.96 million tons, indicating a 14% increase during the same period. Out of this, the export volume was 87.2 thousand tons, while the import volume was 1,187.24 million tons, resulting in a trade deficit.
China not only meets domestic market demand but also participates in international trade through imports and exports. According to data from 2023, the main destinations for China's methanol exports include Vietnam, Taiwan, the Philippines, Malaysia, Singapore, Indonesia, Hong Kong, Myanmar, North Korea, and South Korea, primarily targeting Asian markets. The data reveals significant growth in markets like Vietnam and North Korea, especially the latter being a relatively new market in the "from scratch" category. Meanwhile, China's methanol imports primarily come from markets such as Oman, Saudi Arabia, the United Arab Emirates, Trinidad and Tobago, and New Zealand.
One of the primary raw materials for methanol production is natural gas. Therefore, fluctuations in natural gas prices directly impact the production costs of methanol, thereby influencing its overall pricing.China is a significant participant in the global methanol market, and changes in its production capacity, demand, and policies can potentially affect international methanol prices. It is important to note that these conditions may undergo changes in the future, as the energy and chemical industries are undergoing rapid development and transformation. The latest information may need to be obtained by referring to the most recent market and industry reports.
As the first data company in China, GuomaoTong can provide customs data for imports and exports from more than 80 countries since 2010. It has the capability to conduct precise online analyses of the distribution of import and export markets, detailed transaction information of import and export enterprises, specific quantity and price analyses, supply cycles, and more. This service provides reliable and factual data for major foreign trade enterprises and industry consulting firms.
