Jiangsu’s foreign trade up 8.5% in January-May

2022-06-20 15:59:00

Jiangsu’s foreign trade in the first five months of this year reached 2.13 trillion yuan, up 8.5% year on year, 0.2 percentage points higher than the national average, according to Nanjing Customs.

CFP photo

This included the exports at 1.32 trillion yuan, a year-on-year expansion of 9%, and imports of 807.03 billion yuan, up 7.6%.

The province’s general trade, involving longer production chains and better reflecting the manufacturing strength, rose 9.4% year on year to 1.21 trillion yuan, accounting for 56.7% of the total trade volume, or 0.5 percentage points higher than the same period last year.

Jiangsu's trade volume with the European Union, ASEAN, the United States and South Korea reached 318.33 billion yuan, 311.64 billion yuan, 275.35 billion yuan and 242.02 billion yuan, up 7.4%, 9.6%, 5.2% and 19.6%, respectively.

During the five months, Jiangsu’s exports and imports with countries along the Belt and Road initiative increased by 11.2%, and with 14 RCEP countries up by 8.8%.

Jiangsu’s exports of electromechanical products and labor-intensive products accounted for over 80% of the total, with strong growth reported in exports of integrated circuits, solar cells and mobile phones.