East China’s Jiangsu province recorded a 16.8% increase in imports and exports to Latin America in 2022, latest statistics show. In recent years, Jiangsu has continued to develop emerging markets, and the development strategy of diversifying its foreign trade market is taking effect.
Statistics from Nanjing Customs show that in 2022, Jiangsu's import and export to Latin America reached 370.69 billion yuan, up 16.8% year on year. Exports to Latin America totaled 237.67 billion yuan, up 14.9%; The import was 133.01 billion yuan, up 20.4%.
The province maintained growth momentum in the export of mechanical and electrical products with high added value, as is evidenced by its exports of solar cells, mobile phones and automobiles to Latin America that amounted to 16.65 billion yuan, 3.53 billion yuan and 2.4 billion yuan, up 41.8%, 187.1% and 160.6% respectively.
Jiangsu increased its imports of agricultural products and iron ore from Latin America. The import of agricultural products from Latin America reached 75.37 billion yuan, up 49.2%.
