Shanxi records positive growth in foreign trade

( Updated: 2020-12-21

The total value of imports and exports in North China's Shanxi province between January and November was 132.87 billion yuan ($20.29 billion), representing a year-on-year increase of 1.2 percent.

This represented positive growth for the first time in the current year despite the influence of the COVID-19 pandemic, according to Taiyuan Customs. 

The value of foreign trade in November alone increased 52.8 percent year-on-year. Both imports and exports achieved growth in the month, showcasing the increasingly improving foreign trade in the province.

Over the past 11 months, Shanxi's imports and exports to the European Union and South Korea increased by 16 percent and 10.8 percent, respectively, year-on-year. Imports and exports to countries involved in Belt and Road Initiative accounted for 23 percent of the total value of trade and grew 1.8 percent year-on-year.

Thanks to the support of local policies and the efforts of local business, Yangquan, Datong, Xinzhou, Linfen and Taiyuan cities in the province achieved growth in imports and exports during the period.

In particular, imports and exports of Taiyuan and Jincheng accounted for 84.2 percent of the value of Shanxi's total foreign trade. 

Among the province's main export commodities, the mobile phone sector achieved an increase in exports over the past 11 months, while that of the steel sector fell. 

Despite this, exports of mobile phones and steel products still accounted for 70.3 percent of total exports. 

During the period, the province's exports of medical materials and drugs, magnesium and magnesium products and agricultural products, also grew 11.6, 8.1, 18.3 percent year-on-year, respectively. 

In terms of imports, the value of trade in integrated circuits and imaging modules for mobile phones and tablet computers increased 15.5 and 15.6 percent, respectively.

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