Shanxi's Jan-Aug foreign trade value reaches $13.3b

The import and export trade value of Shanxi province amounted to 92.05 billion yuan ($13.30 billion) between January and August, representing a year-on-year growth of 25.9 percent, making it the seventh fastest growing region in China, according to Taiyuan Customs.

Individually, exports reached 52.2 billion yuan, an increase of 18.9 percent year on year and imports 39.85 billion yuan, up by 36.5 percent.

Companies with foreign investment were responsible for half of the total volume of foreign trade during the Jan-Aug period, contributing 58.6 percent to the total, and the volume of imports and exports generated by State-owned enterprises and private businesses maintained steady growth, up 21 percent and 22.5 percent respectively.

With regard to trade with different countries and regions, the province saw trade with the BRICS countries increase (8.71 billion yuan, year-on-year growth of 11.7 percent), ASEAN countries (8.21 billion yuan, year-on-year growth of 34.5 percent), and countries along the Belt and Road (20.06 billion yuan, year-on-year growth of 29.2 percent). The import-export value to the European Union and South Korea decreased between January and August.