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Jiangsu Foreign Trade Data Announced: Exports Of Shoes, Plastic Products, Toys, Furniture, Etc. Only Grew By 1.9%

May 14, 2018

Nanjing Customs announced on the 11th that in the first four months of this year, Jiangsu's foreign trade imports and exports have maintained a steady increase.


Located in the eastern part of China's Jiangsu Province, Tongjiang reaches the sea. The transportation is convenient and the economic development is well known for its foreign trade. In 2017, Jiangsu's foreign trade import and export broke 4 trillion yuan (RMB, the same below), an increase of 19.1%, and the “mass” remained the second place in the country for 15 consecutive years.


This scale advantage continues. According to the statistics of the General Administration of Customs, in the first four months of this year, the total value of China's trade in goods was 9.11 trillion yuan, an increase of 8.9% year-on-year. The Nanjing Customs data showed that in the first four months, Jiangsu's import and export of foreign trade reached 1,317.74 billion yuan, an increase of 10.4% year-on-year, and the growth rate was higher than that of the whole country. It accounted for 14.5% of China's total value of imports and exports in the same period, accounting for about one-seventh of the country's total.


In fact, since 2017, when Jiangsu's foreign trade has turned its tide and pulled up quickly, since its opening in 2018, Jiangsu’s foreign trade “report card” has been bright and stable.


According to an analysis by Nanjing Customs on the 11th, from the point of view of “physique”, the province’s general trade imports and exports grew significantly, with the proportion increasing; general trade, processing trade, and imports and exports accounted for 49.1% and 38.6% of Jiangsu’s total value of imports and exports, respectively.


Judging from the international “friendship circle”, the EU, the United States, South Korea, ASEAN, and Japan are the top five trading partners in Jiangsu. At the same time, Jiangsu’s imports and exports to some countries along the “Belt and Road” are growing faster, with exports to the United Arab Emirates, Saudi Arabia, Turkey, and Bangladesh increasing by 26.4%, 14.7%, 12.9%, and 16.3% respectively in the first four months.


Jiangsu's foreign trade import and export have also undergone internal changes: the dominant position of foreign-invested enterprises has weakened; the import and export growth of private enterprises and state-owned enterprises has increased rapidly; the export growth rate of mechanical and electrical products and labor-intensive products has been significantly different; the imports of integrated circuits and other mechanical and electrical products have increased rapidly. .


In the first four months of this year, foreign-invested enterprises' imports and exports accounted for 62.2% of Jiangsu's total value of imports and exports, which was 2.6 percentage points lower than the same period of last year. The export rate of electromechanical products that accounted for over 60% of the province’s total export value was 9.9%, while the export of garments, textile yarns and fabrics, footwear, plastic products, bags, toys, furniture and other 7 types of traditional labor-intensive Products, the growth rate is only 1.9%.


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