East China’s Jiangsu province reported steady trade growth in the first eight months of this year, in particular in the growth of export to Belt and Road countries, latest statistics from Nanjing Customs show.
From January to August, Jiangsu reported an import and export value of 3.29 trillion yuan, up 17.1% year on year, an increase of 16.4% over the same period in 2019, and accounting for 13.3% of China's total import and export value.
The province’s import and export of general trade came at 1.87 trillion yuan, an increase of 24.3%, accounting for 57% of the province’s total foreign trade value and an increase of 3.3 percentage points over the same period last year.
From January to August, Jiangsu reported a 20.8% year-on-year increase in its import and export with ASEAN, and 18.4% with EU, both higher than the average growth rate of the province's foreign trade.
Jiangsu also achieved significant growth in its imports and exports with the United States, South Korea, and Japan.The total import and export between Jiangsu and its five major trading partners accounted for 61.4% of the province's total value.
Jiangsu registered 831.48 billion yuan in its imports and exports to Belt and Road countries, an increase of 21.9% year on year and 4.8 percentage points higher than the province's average growth.
Private enterprises continue to drive the rapid growth of foreign trade. From January to August, private enterprises in Jiangsu reported 123.152 billion yuan of import and export, an increase of 28.1% year on year and 11 percentage points higher than the overall growth rate of the province's foreign trade.
