Weifang posts strong foreign trade growth in first quarter

Weifang in East China's Shandong province recorded robust growth in foreign trade during the first quarter of 2025, with total imports and exports reaching 91.74 billion yuan ($12.5 billion), up 7.6 percent year-on-year, according to official data.

Exports climbed 8.7 percent to 60.86 billion yuan, while imports rose 5.6 percent to 30.88 billion yuan. The city's foreign trade accounted for 11.2 percent of Shandong province's total, ranking third among 16 cities.

Cargo vessels dock at Weifang Port in Weifang, Shandong province. [Photo/Xinpai]

General trade remained stable, while bonded logistics saw substantial growth. Weifang's general trade imports and exports grew 3.2 percent to 49.13 billion yuan, and bonded logistics surged 24.7 percent to 32.15 billion yuan, indicating new momentum in the city's trade structure.

Private enterprises continued to drive the city's foreign trade, contributing 85.8 percent of the total import and export value. In the first quarter, private businesses achieved a combined trade volume of 78.71 billion yuan, marking an 8.5 percent year-on-year increase.

Weifang also strengthened its trade ties with countries involved in the Belt and Road Initiative with imports and exports reaching 55.34 billion yuan, up 4.5 percent and accounting for over 60 percent of the city's total. Trade with South Korea was particularly notable, increasing 31.4 percent to 10.15 billion yuan.

Mechanical and electrical products continued to be a major export driver. Exports in this category rose 27 percent to 29.41 billion yuan, making up 48.3 percent of the city's total exports and showing the strength of its industrial manufacturing sector.

With a vibrant private sector, expanding global partnerships, and strong industrial output, Weifang's foreign trade is expected to maintain its momentum throughout 2025.