East China’s Jiangsu province reported double-digit growth in foreign trade in the first 8 months of this year, latest statistics show.
From January to August, Jiangsu reported a total import and export value of 3.63 trillion yuan, a year-on-year increase of 10.6%, accounting for 13.3% of the national total.
The province reported exports of 2.31 trillion yuan, an increase of 13.6%, and imports of 1.32 trillion yuan, an increase of 5.7%.
In the first 8 months, Jiangsu recorded a general trade import and export of 2.09 trillion yuan, an increase of 11.4%, accounting for 57.4% of the province's total value, indicating that the trade structure was further optimized.
With the support of various measures to stabilize foreign trade, domestic enterprises are showing more and more vitality by virtue of continuous independent innovation.
From January to August, private enterprises and state-owned enterprises in Jiangsu registered 1.43 trillion yuan and 342.37 billion yuan in imports and exports, an increase of 16.1% and 16.2% respectively, accounting for 48.7% of the province's total value, up 2.3 percentage points from the same period last year.
In the first 8 months, the province recorded 1.51 trillion yuan in exports of mechanical and electrical products, an increase of 13%, accounting for 65.5% of the total export value. The province also reported rapid growth in integrated circuits, mobile phones, solar cells, and lithium-ion batteries.
Jiangsu reported an increase in imports and exports to the EU and ASEAN by benefiting from the stable operation of Jiangsu China-Eurasian freight trains and the continuous release of policy dividends such as the Regional Comprehensive Economic Partnership Agreement.
Jiangsu's exports to the EU, ASEAN, the United States, South Korea, and Japan reached 555.67 billion yuan, 532.44 billion yuan, 477 billion yuan, 395.95 billion yuan, and 287.65 billion yuan, up 13.3%, 13.2%, 8.6%, 17.8%, and 1.6% respectively.
The province recorded 954.21 billion yuan of imports and exports to countries along the "Belt and Road", an increase of 14.8%, accounting for 26.3% of the provincial total.
