Uploaded containers are seen at Qingdao Port in Shandong province on Jan 9, 2023. [Photo/VCG]

In 2022, the total value of Shandong's foreign trade reached a record high of 3.33 trillion yuan ($491.18 billion), with a year-on-year growth of 13.8 percent, according to official statistics released on Jan 17.

Last year, the province's total exports amounted to 2.03 trillion yuan, up 16.2 percent year-on-year, while its imports recorded 1.3 trillion yuan, an increase of 10.3 percent year-on-year.

In 2022, Shandong's trade with its top six trading markets, namely the Association of Southeast Asian Nations (ASEAN), the United States, the European Union, South Korea, Russia and Japan, increased by 53.1 percent, 9.4 percent, 2.5 percent, 3.6 percent, 59.2 percent and 5.8 percent, respectively, from the previous year.

The province's trade with countries and regions involved in the Belt and Road Initiative increased by 38 percent and accounted for 38.8 percent of its total foreign trade value.

Last year, the import and export volume of Shandong's general trade reached 2.18 trillion yuan, an increase of 12.2 percent year-on-year, and accounted for 65.6 percent of the province's total.

Private enterprises dominated the province's foreign trade. In 2022, the imports and exports of private enterprises in Shandong increased 17.7 percent year-on-year, reaching 2.46 trillion yuan, which accounted for 73.7 percent of the province's total.