Tai’an sees gains in imports, exports in Jan-Aug

Imports and exports of Tai’an in Shandong province grew 23.3 percent year-on-year to hit 27.74 billion yuan ($3.8 billion) in the January-to-August period this year, according to Tai’an Customs.

This growth rate was higher than the provincial average by 21.9 percentage points.

Exports were worth 23.8 billion yuan, an increase of 26.7 percent year-on-year, with the growth rate ranking third in the province. Imports totaled 3.94 billion yuan, an increase of 6.3 percent year-on-year, with the growth rate ranking fifth in the province.

In terms of export products, Tai’an’s exports of mechanical and electrical products were worth 6.07 billion yuan, an increase of 45.8 percent year-on-year, accounting for 32.3 percent of the city’s total export value.

Apparel and clothing accessories exports were worth 2.1 billion yuan, an increase of 7.1 percent year-on-year.

Textile yarns, fabrics and their products exports totaled 1.62 billion yuan, a decrease of 18.4 percent year-on-year.

Imports and exports to ASEAN, the United States, and the European Union amounted to 7.45 billion yuan, 3.85 billion yuan, and 2.68 billion yuan respectively. Notably, exports to the US experienced a significant increase of 40.9 percent year-on-year, while exports to ASEAN and the EU declined by 7.4 percent and 25.6 percent respectively. Together, these three regions accounted for 38.6 percent of Tai’an’s total import and export value.

In terms of enterprise types, the imports and exports of private enterprises totaled 23.48 billion yuan, an increase of 28.1 percent year-on-year.