Tai'an tops growth rate for imports, exports in Shandong in Q1

In the first quarter of 2023, the volume of imports and exports in Tai'an, Shandong province reached 10.25 billion yuan ($1.45 billion), surging 47.5 percent year-on-year, which topped the province in terms of growth rate.

During this period, exports totaled 8.88 billion yuan, surging 55.2 percent year-on-year, while imports hit 1.37 billion yuan, up 11.8 percent.

In March alone, the volume of Tai'an's imports and exports surged 73.9 percent year-on-year to stand at 5.44 billion yuan.

General trade made up 97.1 percent of the total in Q1, with Tai'an registering 9.96 billion yuan of imports and exports in this category.

In the first quarter, there were 784 foreign trade enterprises in Tai'an engaged in imports and exports, marking an increase of 7 percent year-on-year. Among them, private enterprises achieved total volume of 8.65 billion, up 60.2 percent year-on-year, which was 12.7 percentage points higher than the city's overall growth rate. This contributed to an overall increase of 46.8 percentage points in the city's imports and exports.

During the same period, Tai'an's foreign trade with the Association of Southeast Asian Nations, Australia, and the United States increased by 111.3 percent, 302.5 percent, and 7.7 percent, respectively.

Tai'an's major exports – mechanical and electrical products, and clothing – jumped 98.1 percent and 20.4 percent, respectively, over the same period, to 3.54 billion yuan and 690 million yuan.

Meanwhile, its major imports – iron ore and plastic – amounted to 340 million yuan and 240 million yuan, respectively.