The volume of import and export in Jiangsu maintained a steady growth from January to April with the growth rate higher than the national average, latest statistics from Nanjing Customs show.
Statistics show that from January to April, Jiangsu's import and export reached 1,317.74 billion yuan, an increase of 10.4% over the same period of last year and accounting for 14.5% of national total. Exports increased to 785.83 billion yuan, an increase of 8.5% year on year. Imports reached 531.91 billion yuan, an increase of 13.5% year on year.
With the continuous improvement of independent innovation capability, the import and export of higher value-added general trade has increased significantly, occupying half of the province’s imports and exports.
From January to April, Jiangsu imported and exported 646.89 billion yuan in general trade, an increase of 10.8% from a year ago. The province registered 508.61 billion yuan of processing trade in imports and exports, an increase of 0.6% year on year.
At the same time, the dominant position of foreign-invested enterprises has weakened, and the import and export of private enterprises and state-owned enterprises have maintained rapid growth due to the enhancement of the internal power of foreign trade.
In terms of product structures, the export of electromechanical products maintained steady growth during the four-month period with the total volume hitting 523.11 billion yuan, accounting for 66.6% of the province's total export value.
In the meantime, the growth of exports of 7 types of traditional labor-intensive products, such as clothing, bags, and toys, slowed down with the exports from January to April totaling 119.73 billion yuan, an increase of 1.9% year on year. Imports of electromechanical products such as integrated circuits continued to maintain rapid growth during the first four months of the year.
Industry insiders expect the province’s imports and exports will remain stable in the second quarter against the risks of Sino-U.S. trade frictions which will bring uncertainties to China’s import and export.
(Source: Jiangsu International Channel)
