Nantong's foreign trade up 23.5% in Jan-Feb

The imports and exports of Nantong in East China's Jiangsu province surged 23.5 percent year-on-year in the first two months of the year, 8.4 percentage points higher than the provincial average, according to Nantong Customs.

The gross foreign trade value in the city amounted to 55.68 billion yuan ($8.74 billion) during the same period, accounting for 6.6 percent of the provincial total.

The city's exports jumped 19.3 percent year-on-year to 35.55 billion yuan, while its imports surged 31.8 percent year-on-year to 20.13 billion yuan.

Nantong's robust foreign trade growth in the January-February period was mainly due to the export of traditional goods.

The exports of mechanical and electrical products and labor-intensive products increased 21 percent and 7.7 percent year-on-year respectively. The exports of solar cells, integrated circuits, and ships soared 67 percent, 54.1 percent, and 28.7 percent year-on-year respectively.

The surge in commodity prices in January and February contributed to the increase of imports in Nantong. The import price for liquefied natural gas grew by 106.2 percent year-on-year, driving the import value of LNG in the city to a 57.5 percent year-on-year increase.

In addition, the import values for agricultural products and integrated circuits jumped 48.2 percent and 14.8 percent year-on-year respectively.