Inner Mongolia’s foreign trade rebounds in first three quarters

The import and export value of foreign trade in North China’s Inner Mongolia autonomous region in the first three quarters of this year was 76.95 billion yuan ($11.50 billion), down 6.6 percent from the same period last year. However, according to statistics released by Hohhot Customs, the rate of decline narrowed compared with the first half of the year.

It is worth noting that in September, the autonomous region’s foreign trade imports and exports amounted to 10.75 billion yuan, a sharp increase of 22.5 percent. 

Among them, exports were 3.14 billion yuan, an increase of 10.7 percent, while imports were 7.61 billion yuan, an increase of 28.1 percent.

In the first three quarters, general trade imports and exports totaled 51.66 billion yuan, an increase of 5.8 percent, accounting for 67.1 percent of the autonomous region's total foreign trade import and export value during that period.

At the same time, small trade imports and exports in the autonomous region’s border areas were 18.11 billion yuan, down 24.1 percent, accounting for 23.5 percent of the total foreign trade value. Meanwhile, bonded logistics imports and exports were 5.85 billion yuan, down 13.8 percent, accounting for 7.6 percent of the total, and processing trade imports and exports were 1.1 billion yuan, down 49.3 percent, accounting for 1.4 percent.

In the first nine months of this year, private enterprises were the leading force in the autonomous region’s foreign trade, and imports and exports of State-owned enterprises increased slightly. 

The import and export amount of private enterprises was 51.69 billion yuan, down 11.1 percent, accounting for 67.2 percent of the autonomous region’s total foreign trade. The import and export value of State-owned enterprises was 20 billion yuan, up 7.7 percent, accounting for 26 percent of the total amount.

During the same period, the import and export value of foreign-invested enterprises was 5.08 billion yuan, an increase of 0.3 percent, accounting for 6.6 percent of the total.