Quzhou's foreign trade up 16.1% in Jan-Oct

Quzhou's imports and exported were valued at 56.95 billion yuan ($7.96 billion) from January to October, an increase of 16.1 percent over the same period last year, according to Quzhou Customs.

Exports were valued at 36.13 billion yuan, an uptick of 9.7 percent, while imports were valued at 20.82 billion yuan, an increase of 29.1 percent.

From January to October, the city's exports of electromechanical products were valued at 9.01 billion yuan, a rise of 11.6 percent and accounting for 24.9 percent of the city’s total exports in the same period. Solar cell exports experienced a surge of 77.2 percent, increasing the city's export growth by 1.9 percentage points. 

Imports of pulp paper and its products imports saw a whopping increase of 94.4 percent to 5.86 billion yuan, driving the city's import growth by 17.6 percentage points.

The city's trade with its top four trade partners – ASEAN, South Korea, the European Union, and Brazil, increased by 51.2 percent, 27.5 percent, 11.4 percent, and 67.1 percent, respectively.

Exports to South Korea, the EU, and ASEAN were valued at 7.25 billion yuan, 5.35 billion yuan, and 4.5 billion yuan, respectively, up 21.2 percent, 13.3 percent, and 25.7 percent.

Imports from Indonesia totaled 8.65 billion yuan, soaring 79.9 percent and accounting for 41.5 percent of the city's total imports. Imports from Brazil amounted to 4.31 billion yuan, a leap of 104.7 percent.

In addition, the city's trade with countries involved in the Belt and Road Initiative totaled 33.83 billion yuan, up 18.9 percent and accounting for 59.4 percent of the city's total imports and exports.

The city's Imports and exports to RCEP member countries were 24.34 billion yuan, an increase of 34.5 percent.

Meanwhile, processing trade imports witnessed a substantial increase of 248.6 percent. A total of 2.31 billion yuan in goods were exported through the customs cross-border e-commerce management platform, surging 72.1 percent and increasing the city's export growth by 2.9 percentage points.

In the first 10 months of this year, private enterprises' imports and exports were valued at 45.71 billion yuan, an increase of 15.8 percent, while that of foreign-funded enterprises totaled 9.01 billion yuan, an increase of 37.6 percent.