Shandong foreign trade up 5.8% in first 10 months

(| Updated : 2020-11-12

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East China's Shandong province recorded 1.76 trillion yuan ($265.5 billion) in imports and exports in the first 10 months of this year, up 5.8 percent year on year, according to local customs authorities.

The province's export value during the period was 1.02 trillion yuan, up 13.3 percent, while its imports dropped 3.1 percent to 742.38 billion yuan.

In October, Shandong's imports and exports totaled 206.82 billion yuan, up 19.2 percent year on year. Specifically, exports reached 128.41 billion yuan, up 43.6 percent year on year and the second highest amount ever recorded, while imports dropped 6.7 percent to 78.41 billion yuan.


Ships prepare for voyage at the foreign trade container terminal of Qingdao Port in Shandong province. [Photo by Yu Fangping/For China Daily]

According to local officials, ever since the pandemic in China was brought under control in March, Shandong's foreign trade has recovered significantly, especially after the third quarter of the year.

Official data show that from July to October, the province's foreign trade volume stayed above 190 billion yuan. In August and September, the combined value of imports and exports hit new record highs. Though slightly down from September, it was still at a historic high in October.

The coastal city of Qingdao has made outstanding contributions to the province's foreign trade. In the first 10 months, Qingdao continued to lead among the province's 16 cities, with imports and exports reaching 512.08 billion yuan, up by 7.1 percent and accounting for 29 percent of the province's total.

Imports and exports in Yantai, Weifang, Weihai, Jinan, Linyi, Jining, Dezhou, Zaozhuang and Tai'an also continued to increase over the period.