Jiangsu’s foreign trade up 14% in Q1

2022-04-19 16:18:00

(CFP Photo)

Jiangsu Province’s foreign trade grows by 14% year on year in the first quarter of this year to hit 1.29 trillion yuan, about 13.7% of the country’s total, according to Nanjing Customs on April 18.

From January to March, the province's export and import value reached 802.82 billion yuan and 485.61 billion yuan, a year-on-year growth of 15% and 12.3% respectively.

The general trade, processing trade, and bonded warehouse trade in the period hit 716.56 billion yuan, 418.88 billion yuan and 140.61 billion yuan, an increase of 14.6%, 13.1% and 14.4% year on year respectively.

During the period, Jiangsu’s trade with the European Union, the Association of Southeast Asian Nations, the United States, South Korea and Japan reached 196.96 billion yuan, 182.49 billion yuan, 168.57 billion yuan, 144.18 billion yuan and 107.31 billion yuan respectively, up 12.9%, 13.3%, 10.1%, 22.7% and 5.1%.

Meanwhile, Jiangsu's import and export with the Belt and Road countries totaled 335.64 billion yuan, an increase of 17.5%. This accounted for 26.1% of the province's total foreign trade, 0.8 percentage points higher over the same period last year.

Private enterprises saw the import and export value of 471.01 billion yuan, accounting for 36.6% of the province’s total. State-owned enterprises recorded foreign trade of 119.84 billion yuan. The province’s exports of solar cells and mobile phones expanded significantly in the three months.