Shanxi foreign trade rises to $20.19b in 2018

The import and export trade value of Shanxi province amounted to 136.99 billion yuan ($20.19 billion) in 2018, placing the province in 22nd position in China and representing a year-on-year growth of 17.8 percent, according to Taiyuan Customs.

Exports rose to 81.04 billion yuan, an increase of 17.4 percent year on year and imports rose to 55.95 billion yuan, up 18.4 percent year on year.

Trade in imported goods processed and then re-exported, dominated the province's foreign trade, with the volume reaching 92.89 billion yuan, up 14.9 percent year on year and accounting for 67.8 percent of the total trade volume.

Exports of steel products and cellphones accounted for 69.5 percent of the total foreign trade value with cellphone exports maintaining stable growth while exports of steel products were down. The import amounts of mechanical and electrical products, high-tech goods and minerals increased.

Of the 11 cities in the province, eight cities achieved growth in exports and imports and 10 cities realized growth in exports in 2018.

For example, Taiyuan city’s foreign trade value reached 108.63 billion yuan, an increase of 18.7 percent, accounting for 79.3 percent of the province's total. Yuncheng city achieved a foreign trade value of 7.71 billion yuan, accounting for 5.6 percent of the province's total. The two cities contributed 84.9 percent to Shanxi’s total foreign trade value.