​Shanxi foreign trade value soars 93.7% in Jan-July


Updated: 2021-08-23

The value of foreign trade of North China's Shanxi province in the first seven months of the year was 133.57 billion yuan ($20.58 billion), an increase of 93.7 percent year-on-year, according to Taiyuan Customs.

The value of exports and imports soared by 106.9 percent and 75.8 percent, respectively.

The capital Taiyuan led the cities in the province, with its imports and exports contributing to more than 80 percent of the total. The imports and exports of seven cities achieved growth, while exports of nine cities reported increases.

From January to July, the value of the province's processing trade was 85.92 billion yuan, an increase of 138.3 percent year-on-year and accounting for 64.3 percent of Shanxi's total foreign trade. 

The imports and exports of foreign-funded companies in Shanxi during the period was 72.89 billion yuan, up 97 percent year-on-year and accounting for 54.6 percent of total foreign trade. Imports and exports by private enterprises came in at 39.21 billion yuan, an increase of 143.9 percent and accounting for 29.4 percent of the province's total.

Shanxi's total foreign trade with countries involved in the Belt and Road Initiative, the US, ASEAN, the EU and BRICS countries saw significant gains.

The province's imports and exports to the Regional Comprehensive Economic Partnership member countries grew 123.4 percent, accounting for 31.7 percent of the province's total trade.

In terms of commodity exports, Shanxi shipped out 20.46 million mobile phones worth 49.3 billion yuan, accounting for 60.1 percent of the province's total exports and up 127.6 percent in value. Integrated circuit parts, mobile phone parts (excluding antennas) and plastic gloves also saw rapid growth in exports, while steel exports continued to decline. 

In terms of imported goods, the value of integrated circuits, mobile phone components (excluding antennas), audio and video equipment and their parts increased substantially.