East China’s Jiangsu province saw its foreign trade grow by 2.6 percent year-on-year to a record-high number of over 4.45 trillion yuan in 2020 despite the adversities of COVID-19, the Nanjing Customs said on Tuesday.
In 2020, Jiangsu reported 4.45 trillion yuan of imports and exports, an increase of 2.6% over 2019, 0.7 percentage points higher than the national increase, and accounting for 13.8% of China's total imports and exports during the period.
The province’s exports totaled 2.74 trillion yuan, an increase of 0.9% and imports reached 1.7 trillion yuan, an increase of 5.5%.
General trade, which reflects Jiangsu's strength in industrial chain and independence, reported a significant growth.
In 2020, Jiangsu's general trade import and export amounted to 2.38 trillion yuan, an increase of 6.2%, accounting for 53.4% of the province’s total foreign trade with the proportion increasing by 1.8%, further optimizing the province’s foreign trade structure.
Jiangsu reported growth in its imports and exports with the EU, the United States, ASEAN, South Korea, and Japan, accounting for 62.9% of Jiangsu's total import and export value.
Jiangsu's imports and exports with Belt and Road countries reached 1.1 trillion yuan, an increase of 1.9%, showing that Jiangsu has diversified its foreign trade partners.
In 2020, Jiangsu’s private enterprises reported 1.57 trillion yuan of import and export, an increase of 14.7%, 12.1 percentage points higher than the overall growth rate of the province’s foreign trade.
The growth rate promoted Jiangsu's import and export increase by 4.6 percentage points, accounting for 35.2% of the province’s total foreign trade value.
