(CFP)

The total import and export of goods in Jiangsu Province reached a historical high of 2.68 trillion yuan in the first half of the year, marking an 8.5% year-on-year growth, which is 2.4 percentage points higher than the national average and accounts for 12.7% of the country’s total, according to Nanjing Customs.

Specifically, the province’s exports grew by 8% in the period, while imports increased by 9.3%. Export growth has continued to rise steadily from 6.7% in the fourth quarter of last year to 8.6% in the second quarter of this year.

Private enterprises have become the primary drivers for the province's foreign trade growth. In the first six months, the import and export volume of private enterprises totaled 1.23 trillion yuan, up 14.7% year on year, accounting for 45.8% of the province's total foreign trade. Meanwhile, foreign-invested enterprises and state-owned enterprises recorded import and export volumes of 1.25 trillion yuan and 206.69 billion yuan, representing 46.5% and 7.7% of the total, respectively.

The province’s trade with countries involved in the Belt and Road Initiative also saw rapid expansion. The import and export volume amounted to 1.2 trillion yuan in the first half of the year, representing a 13.6% year-on-year growth and accounting for 44.6% of the provincial total. Notably, Jiangsu’s trade with ASEAN and South Korea grew by 10.5% and 13.3%, respectively.