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

According to statistics from Qingdao Customs, the city's imports and exports increased 6.1 percent year-on-year and reached 207.54 billion yuan ($29.92 billion) in the first quarter of 2023.

Qingdao's foreign trade volume accounted for 27.1 percent of Shandong's total, ranking first in the province.

From January to March, the city's exports reached 117.78 billion yuan, up 3.1 percent year-on-year, while imports stood at 89.76 billion yuan, up 10.2 percent.

Private enterprises continue to dominate the city's foreign trade. Over this period, the imports and exports of private enterprises in Qingdao posted a growth of 15.5 percent, reaching 148.49 billion yuan, which accounted for 71.5 percent of the city's total.

The Association of Southeast Asian Nations (ASEAN), the United States, and the European Union were the city's top three trading markets, with trade volume hitting 37.28 billion yuan, 23.62 billion yuan, and 21.92 billion yuan, up 24.9 percent, down 2.2 percent, and up 0.2 percent, respectively.

Its trade with South Korea and Japan reached 16.89 billion yuan and 14.49 billion yuan, down 13 percent and 10.2 percent, respectively.

Qingdao's trade with RCEP member states reached 77.82 billion yuan, up 4.9 percent, while its trade with countries involved in the Belt and Road Initiative hit 73.62 billion yuan, up 23.8 percent.

Exports of mechanical and electrical products, as well as agricultural products maintained growth. In the first quarter, Qingdao exported 56.94 billion yuan worth of mechanical and electrical products, an increase of 9 percent, which accounted for 48.3 percent of the city's total export value.

Its exports of agricultural products reached 10.18 billion yuan, up 10.5 percent.

In addition, the exports of high-tech products reached 9.35 billion yuan, up 18.3 percent.