Taizhou foreign trade sees strong growth in first seven months

A magnificent sunset takes place in the sky over Taizhou city. [Photo by Qian Yu/WeChat ID: tztour]

The foreign trade of Taizhou city – in East China's Jiangsu province –  experienced robust growth in the first seven months of the year, with combined imports and exports worth a total of 75.46 billion yuan ($10.35 billion), representing a 2.4 percent year-on-year increase.

Notably, exports played a pivotal role, contributing 53.91 billion yuan – rising 5.9 percent and securing the city's second position in the provincial growth rankings.

In the month of July alone, foreign trade was worth 11.58 billion yuan, up 11.8 percent year-on-year. Breaking that down, exports were worth 7.95 billion yuan, up 13 percent, while imports stood at 3.63 billion yuan, up 9.2 percent.

Among the significant trends, electromechanical products emerged as a driving force for growth, alongside the "new three" in foreign trade: electric passenger vehicles, lithium batteries and solar cells. Additionally, emerging markets continue to play a vital role in driving growth.

Electromechanical products accounted for imports and exports totaling 39.39 billion yuan during this period, contributing 52.2 percent to the city's total trade. Ship products exhibited particularly strong growth, reaching 13.63 billion yuan in imports and exports, representing a 65.7 percent increase.

Even agricultural products demonstrated substantial growth, achieving imports and exports totaling 7.38 billion yuan, marking a 26.5 percent year-on-year increase. Emerging markets such as Africa, Latin America, India, Indonesia and Russia continued to show promising growth trends.

Taizhou's private sector remained a strong contributor in the imports and exports domain, accounting for a significant portion of the total.

Private enterprises achieved 35.28 billion yuan in imports and exports during the first seven months, up 9.5 percent year-on-year. This accounted for 46.8 percent of the city's total trade, marking a 3.1 percentage point increase on the same period last year.