Inner Mongolia increases trade with BRI countries in Q1

According to statistics released by Inner Mongolia customs on April 25, trade between the region and countries involved in the Belt and Road Initiative reached 16.7 billion yuan ($2.48 billion) in the first quarter of this year, an increase of 11.8 percent over the same period last year.

In recent years, BRI countries have become Inner Mongolia's most important trading partners. In the first quarter, trade with BRI countries accounted for 63.7 percent of all imports and exports in the region. Among these countries, 80 percent of trade was with Mongolia, Russia, and Vietnam.

Trade between Inner Mongolia and BRI countries continues to increase. In March, the total value of exports to these countries reached 2.05 billion yuan, an increase of 8.9 percent, and imports were valued at 4.46 billion yuan, an increase of 20 percent.