Sharp rise in imports of mineral products in 2003
(Xinhua)
Updated: 2004-04-09 17:00

China's imports of mineral products increased sharply in 2003, according to a report issued Friday by the Ministry of Land and Resources.

The total trade volume in imports and exports of mineral products reached US$160 billion in 2003 in China with the adverse trade balance growing.

In the year, China imported 91.12 million tons of crude oil, 148.13 million tons of iron ore, 2.86 million tons of manganic ore, 1.78 million tons of chromite, 2.67 million tons of copper core and 6.57 million tons of potassic fertilizers.

In 2003, the exploitation of resources of petroleum and natural gas has made great progress. The production of coal reached above 1.6 billion tons, raw iron reaching 200 million tons and the production of ten nonferrous metals rose to 12 million tons.

However, the production of oil in Daqing Oil Field, China's leading petroleum producer, dropped to 48.4 million tons in 2003 after keeping a record of 50 million tons for 27 consecutive years.

Surveys show that China's reserves in mineral resources of crude oil, coal and iron have dropped.

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