Shanxi foreign trade growth surges to third highest in China


Updated: 2021-12-21

The foreign trade value of North China's Shanxi province increased 58.1 percent year-on-year to 204.14 billion yuan ($32.04 billion) in the first 11 months of 2021, with the growth rate ranking third among provinces and autonomous regions in the country.

According to provincial customs department Taiyuan Customs, exports reached 124.71 billion yuan while imports reached 79.43 billion yuan during the period, up 63.8 percent and 49.8 percent year-on-year, respectively. 

The exports and imports of private enterprises nearly doubled, accounting for 60.4 percent of the province's import and export growth. 

The foreign trade value of the province's comprehensive bonded area and bonded logistics centers saw rapid growth. In particular, the foreign trade value of Taiyuan Wusu Comprehensive Bonded Area grew by a factor of 11.2 to 33.92 billion yuan, ranking 32nd among the 145 comprehensive bonded areas in the country. 

As for trading partners, foreign trade with the United States, Japan, ASEAN, and the European Union accounted for nearly half of the province's total, and the province's imports and exports with countries involved in the Belt and Road Initiative increased over 40 percent year-on-year.