A file photo shows a ship loaded with imported iron ore berthed at Nantong Port, Sept 11, 2018. [Photo/IC]

The value of Nantong’s imports and exports amounted to 254.29 billion yuan ($37.71 billion) in 2018, representing year-on-year growth of 7.7 percent, according to statistics released by the local customs department on Jan 26.

The figure accounts for 5.8 percent of Jiangsu’s total foreign trade value, with Nantong recording the fourth highest value in the province. 

Its processing trade volume reached 60.86 billion yuan, representing the highest growth rate since 2014 at 7.9 percent.

Nantong has trading links with 199 countries and regions around the world and has reduced its reliance on traditional overseas markets in recent years.

Trade with Japan, Europe and the United States declined for the fourth consecutive year at 1.6 percent, while imports and exports to Africa and Latin American countries rose 11.5 percent and 11.2 percent respectively.

Last year also witnessed a change in the types of products exported, with the export volume of high-value goods such as ships, containers, integrated circuits and sporting goods up by 35.3 percent, 19.1 percent, 33.6 percent and 19.6 percent respectively.