Jiangsu’s foreign trade up 8.5% in first eight months

2024-09-14 16:39:00

(CFP Photo)

Jiangsu’s total goods imports and exports in the first eight months of this year amounted to 3.65 trillion yuan, marking a year-on-year growth of 8.5%, which is 2.5 percentage points higher than the national average, and accounting for 12.8% of the country’s total.

In August alone, Jiangsu’s imports and exports expanded by 11.1% to 494.46 billion yuan, 6.4 percentage points higher than the national growth rate.

In terms of trade types, general trade hit 2.1 trillion yuan, representing an increase of 6.5% and accounting for 57.7% of the total. Processing trade rose by 12% to 1.14 trillion yuan, accounting for 31.3% of the provincial total.

In terms of trade entities, foreign trade made by private enterprises expanded by 12% to 1.64 trillion yuan. Foreign-invested and state-owned enterprises achieved foreign trade of 1.72 trillion yuan and 285.01 billion yuan, respectively, accounting for 47.2% and 7.8%.

In the first eight months, trade with countries participating in the Belt and Road Initiative increased by 12.3% to 1.61 trillion yuan. Among them, trade with ASEAN and South Korea amounted to 569.01 billion yuan and 366.75 billion yuan, up by 10.5% and 13.9%, respectively.

Notably, Jiangsu’s exports of mechanical and electrical products totaled 1.6 trillion yuan, marking a year-on-year increase of 10.4% and accounting for 68.3% of the province's total export value.