A Tonghai Port terminal of Nantong Port. [Photo provided by Xu Congjun to nantong.gov.cn]

The total value of Nantong's foreign trade in the first quarter reached 105.93 billion yuan ($15.54 billion), marking the first time in history it has surpassed the 100 billion yuan mark for this period, according to the latest statistics from Nantong Customs.

This achievement represents a year-on-year increase of 12.1 percent and accounts for 6.7 percent of the province's total import and export value.

During the period, Nantong's exports amounted to 71.24 billion yuan, an increase of 16.4 percent, while imports totaled 34.69 billion yuan, up 4.1 percent.

In March alone, Nantong's import and export value stood at 32.52 billion yuan, maintaining a level above 30 billion yuan for the 13th consecutive month.

Nantong's trade structure continues to improve, with robust growth in trade with the EU and ASEAN countries. From January to March, the city's trade with the EU reached 18.86 billion yuan, increasing by 44.2 percent year-on-year and contributing 17.8 percent to the city's total. Over the same period, the corresponding figure for the ASEAN countries was 17.16 billion yuan, jumping 44.2 percent to comprise 16.2 percent of the city's total.

The upgrading of Nantong's export structure is accelerating. During the first three months, exports of mechanical and electrical products amounted to 41.95 billion yuan, a growth rate of 26.5 percent. Notably, exports of ships and offshore platforms reached 9.38 billion yuan, rising 44.4 percent, while exports of new energy products showed significant momentum with photovoltaic exports soaring by 97.8 percent.

Nantong Customs' analysis suggests the same factors driving the city's foreign trade growth in the first quarter are expected to remain influential moving forward. Core sectors like the shipbuilding industry continue to be robust, and the rising trend in oil and gas prices will provide additional support for the city's export value.