Nantong foreign trade grows in first eight months
A worker is busy at a machinery manufacturing plant in Nantong, in East China’s Jiangsu province, on Sept 11. [Photo/IC]
Nantong reported year-on-year growth of 0.3 percent in foreign trade in the first eight months of the year, with its foreign trade valued at 164.16 billion yuan ($23.08 billion), local officials said.
According to statistics released by the city’s customs department, the foreign trade volume accounted for 5.8 percent of the total trade in Jiangsu province, ranking Nantong fourth among other cities in foreign trade.
The value of general trade increased 0.8 percent to 117.7 billion yuan, accounting for 71.7 percent of all foreign trade.
Exports through cross-border e-commerce earned 150 million yuan, representing year-on-year growth of 100 percent.
The European Union, ASEAN countries, the United States and Japan maintained the top four major trade partner positions with Nantong -- with import and export values of 24.27 billion yuan, 22.53 billion yuan, 21.82 billion yuan and 20.59 billion yuan, respectively, accounting for 54.3 percent of the city’s total foreign trade.
Trade with the European Union and ASEAN countries rose 24.6 percent and 6.9 percent, while that with the United States and Japan dropped 2.5 percent and 1.3 percent, respectively.
Meanwhile, trade with countries and regions involved in the Belt and Road Initiative increased 9.3 percent to 52.05 billion yuan during the period.
Statistics showed that electromechanical, textiles and petrochemical products were the city’s top three exports, together accounting for 76 percent of the city’s total export volume.
Foreign trade in the private sector accounted for 46.9 percent of the total, with a value of 76.92 billion yuan, while that of the public sector was valued at 21.42 billion yuan.