Shandong's foreign trade increases by 36.8% in Jan-Sept

(| Updated : 2021-10-19

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The total value of imports and exports in Shandong province in the first three quarters of this year reached 2.12 trillion yuan ($330.93 billion), up 36.8 percent from the same period last year and 41.9 percent from the same period in 2019, according to customs statistics.


 Containers are unloaded at Qingdao Port in Shandong province in March. [Photo by Yu Fangping/For China Daily]

During this period, the province's exports totaled 1.23 trillion yuan, up 39.3 percent year-on-year and up 52 percent over the same period in 2019. Imports reached 885.46 billion yuan, up 33.4 percent year-on-year and 29.8 percent higher over the same period in 2019.

In September, the province's foreign trade reached 268.32 billion yuan, up 23.2 percent year-on-year and hitting a new record high. Its exports reached 169.04 billion yuan, up 26.4 percent year-on-year, while imports reached 99.28 billion yuan, up 18.1 percent year-on-year.

From January to September this year, the import and export value of the province's 16 cities each grew more than 20 percent. Qingdao's foreign trade volume continued to be the highest in Shandong, reaching 622.59 billion yuan, up 36.6 percent, accounting for 29.4 percent of province's total.

Tai'an, Linyi, Dezhou, Dongying and Yantai led the way in terms of import and export growth. Their growth rates were 62.7 percent, 53.6 percent, 52.2 percent, 48.2 percent and 42.8 percent respectively.

Imports and exports of all major forms of trade increased significantly during this period.

The imports and exports of general trade in Shandong reached 1.4 trillion yuan, up 31.1 percent, accounting for nearly two thirds of the province's total. Imports and exports of processing trade totaled 335.08 billion yuan, up 25 percent, while imports and exports of bonded logistics totaled 293.59 billion yuan, up 65.3 percent.

Private enterprises continued to dominate the province's foreign trade. In the first three quarters, the imports and exports of private enterprises in Shandong hit 1.49 trillion yuan, up 39.2 percent year-on-year, accounting for 70.2 percent of province's total.

The imports and exports of foreign-invested enterprises reached 438.89 billion yuan, up 28.7 percent, while the figure for State-owned enterprises reached 189.94 billion yuan, up 38.7 percent.