Jiangsu’s foreign trade rebounds in past five months

2020-06-12 17:06:00

East China’s Jiangsu Province reported a stable rebound of foreign trade and less decline in the first five months this year, according to figures released by the Nanjing Customs on June 11.

The province’s import and export volume during the period totaled about 1.628 trillion yuan, a drop of 3.8 percent year on year amid the coronavirus pandemic, but this also represented a gain of 0.6 percentage points than the rate in first four months.

The coastal province’s general trade reached 862.63 billion yuan, an increase of 0.9 percent. Trade with ASEAN, EU (excluding the UK), the United States, South Korea and Japan was 224.46 billion yuan, 242.7 billion yuan, 214.31 billion yuan, 186.53 billion yuan and 156.46 billion yuan, up 2.1 percent and down 7.4 percent, 10.3 percent, 6.2 percent and 2 percent, respectively.

Meanwhile, foreign trade with countries along the Belt and Road initiative amounted to 397.85 billion yuan during the same period.

The import and export by private enterprises climbed up 6.7 percent to hit 536.17 billion yuan, 0.6 percentage points higher over the January-April period.

Exports of electromechanical and labor-intensive products reached 655.11 billion yuan, a drop of 5.2 percent year on year, 2.1 percentage points lower than in the first four months. The import of iron ore, coal and lignite, natural gas and other major bulk commodities and key consumer goods continued to grow rapidly.