OREANDA-NEWS. January 16, 2012. China, the world’s second-largest oil consumer, slowed imports of the commodity last year as the economy cooled and crude prices rose.

Purchases from overseas gained 6 percent to 253.78 million metric tons last year, the General Administration of Customs said in a statement on its website today. Imports rose 17.5 percent in 2010 and 13.9 percent in 2009.

China’s economic growth slowed for three consecutive quarters to the period ended Sept. 30. It may have expanded 9.2 percent in 2011 compared with 10.4 percent in 2010, according to estimates compiled by Bloomberg. At the same time, crude prices have climbed. The country paid an average USD 105.7 a barrel, compared with USD 77 a year earlier, Bloomberg calculations based on the customs data show.

Net oil purchases, or imports minus exports, fell to 5.1 million barrels a day in December from 5.51 million in November, today’s data showed. The average price was USD 110 a barrel, up from USD 106 the prior month. Imports typically decline before the Lunar New Year when demand weakens. The holiday this year starts on Jan. 23.

December net purchases of oil products, including gasoline and diesel, rose to the highest in 2011 at 1.79 million tons, compared with 1.21 million tons in November. Net buying reached 2.07 million tons, a 29-month high, in December 2010.

Crude imports may accelerate to a record this year as China bolsters emergency stockpiles and expands refining capacity. The nation may buy 9 percent more, or 5.6 million barrels a day, according to the median estimate of seven analysts and traders in a Bloomberg survey.

China consumed about 11 percent of the world’s oil in 2010, according to BP Plc’s Statistical Review of World Energy. The U.S. accounted for about 21 percent.

China’s coal exports fell 23 percent to 14.66 million tons last year, including 800,000 tons in December, today’s data showed. The customs bureau didn’t release figures for coal imports.