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Shaoxing foreign trade up 25.4% in H1

Date:2021-07-23 17:22

In the first half of 2021, the foreign trade of Shaoxing totaled 131.78 billion yuan ($20.29 billion), up 25.4 percent year-on-year, according to Shaoxing Customs on July 21.

Shaoxing's major partners were the Association of Southeast Asian Nations, the United States, the European Union, Africa, and Latin America, with respective foreign trade growths of 16.1 percent, 22.1 percent, 12.2 percent, 22.8 percent, and 45.9 percent.

The city's exports to India and the United Arab Emirates grew by 65.6 percent and 79.6 percent respectively while imports from Japan and the US grew by 73.8 percent and 230 percent respectively.

"We've expanded our export markets from Europe, the US, and Japan to countries involved in the Belt and Road Initiative," said Shen Junyou, manager of the Shaoxing branch of small home appliance manufacturers Supor.

In the Jan-June period, the city's foreign trade with countries involved in the Belt and Road Initiative grew 31.4 percent year-on-year to 55.67 billion yuan. This growth was mainly driven by exports of resources and mechanical products.

"Exports in the first half were valued at 250 million yuan, up 50 percent year-on-year," said Shen.

Shaoxing Customs said the Regional Comprehensive Economic Partnership and Authorized Economic Operator certification programs are expected to help maintain the growth momentum.