Shandong foreign trade drops 1.3% in first seven months
(chinadaily.com.cn)| Updated : 2020-08-11
Print PrintShandong's foreign trade dropped 1.3 percent year-on-year to 1.1 trillion yuan ($158.18 billion) in the first seven months of the year, according to local customs authorities.
The province's foreign trade accounted for 6.6 percent of the country's total, ranking sixth among domestic provinces (autonomous regions and municipalities).
From January to July, the province's exports totaled 638.28 billion yuan, up 2.6 percent year-on-year, while imports reached 499.55 billion yuan, down 5.9 percent.
A container ship from South Korea docks at Qingdao Port, Shandong province. [Photo by Zhang Jingang/For China Daily]
In July, Shandong's imports and exports reached 191.69 billion yuan, a year-on-year growth of 9.2 percent. Its exports amounted to 108.05 billion yuan, a year-on-year growth of 13.7 percent, while the import totaled 83.64 billion yuan, up 4 percent.
Official data shows that mechanical and electrical products, labor-intensive goods and agricultural products were Shandong's main exports, earning 260.83 billion yuan, 134.99 billion yuan and 69.56 billion yuan respectively in the first seven months.
The export of epidemic prevention materials maintained a high growth rate, with 2.53 billion yuan worth of masks exported in July. Exports of medical herbs and drugs reached 1.34 billion yuan, up 29.6 percent, while the export of medical instruments and devices reached 320 million yuan, up 57.8 percent.
Shandong's foreign trade with countries involved in the Belt and Road Initiative totaled 346.34 billion yuan, up 5.5 percent and accounting for 30.4 percent of the province's total.