Jiangsu’s foreign trade in 2021 exceeds 5 trillion yuan for first time

2022-01-24 16:12:00

（CFP Photo)

East China's Jiangsu Province, China's major export-oriented economic powerhouse, reported a foreign trade of 5.21 trillion yuan in 2021, a year-on-year increase of 17.1% and 13.3% of the country’s total, according to figures released by the Nanjing Customs on January 19.

The total volume of exports and imports hit 3.25 trillion yuan and 1.96 trillion yuan, up 18.6% and 14.8% year on year, respectively.

Data showed a new progress in optimizing the foreign trade structure. The general trade, processing trade, and bonded warehouse trade over the year hit 2.93 trillion yuan, 1.65 trillion yuan and 589.02 billion yuan, a growth of 23.3%, 4.7% and 32.3% respectively.

Jiangsu’s foreign trade with the EU, ASEAN, the United States, South Korea and Japan reached 767.96 billion yuan, 740.83 billion yuan, 714.02 billion yuan, 543.06 billion yuan and 436.4 billion yuan, an increase of 17.8%, 19%, 12.3%, 13.4% and 6.9% respectively. During the same period, the total value of imports and exports with countries involved in the Belt and Road initiative climbed up by 22% to 1.32 trillion yuan, accounting for 25.4% of the province’s total.

The province’s export volume of mechanical and electrical products also expanded by 17.8% to 2.16 trillion yuan, accounting for 66.4% of Jiangsu's total exports.